Reserve Bank of India was established on __________.

1st April, 1935

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1st April, 1925

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1st April, 1945

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1st April, 1949

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Solution

The correct option is A 1st April, 1935
Reserve Bank of India was established on $1^{s t}$ April 1935. It is the central bank of India and formulates the monetary policy. It has the responsibility of issuing currency, maintaining appropriate interest rate and looks after the operations of other commercial banks.

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