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Question
RBI was nationalized in _____.
RBI was nationalized in _____.
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Solution
The correct option is B Jan 1949
On January 1949, Reserve Bank of India(RBI)
which is an apex bank that regulates and controls the entire banking system of India was
nationalized. It is the sole agency of note issuing and controls the supply of
money in the economy. It is also the government's bank and banker's bank as it acts an agent, guide and banker to government and the commercial banks.
On January 1949, Reserve Bank of India(RBI) which is an apex bank that regulates and controls the entire banking system of India was nationalized. It is the sole agency of note issuing and controls the supply of money in the economy. It is also the government's bank and banker's bank as it acts an agent, guide and banker to government and the commercial banks.
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