The Reserve Bank of India was nationalised on __________.

January 1, 1947

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January 1, 1949

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January 1, 1951

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January 1, 1955

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Solution

The correct option is C January 1, 1949
The Reserve Bank of India was nationalized on the basis of Reserve Bank of India (Transfer to public ownership)act, 1948. After the nationalization, all shares in the capital of the bank was deemed transferred to the central government on payment of suitable compensation.

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When was the Reserve Bank of India nationalised?

The Reserve Bank of India, the central bank of India, was established on 1^st April.

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