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Question
The RBI was nationalized in ________.
The RBI was nationalized in ________.
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Solution
The correct option is A 1949
In 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 issuing notes in the country and controls the supply of
money in the economy. It is also the banker of government and other commercial banks as it retain their deposits and lends them money at the time of urgency.
In 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 issuing notes in the country and controls the supply of money in the economy. It is also the banker of government and other commercial banks as it retain their deposits and lends them money at the time of urgency.
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