The Reserve Bank was nationalized in the year __________.

1948

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1949

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1950

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1951

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Solution

The correct option is C 1949
The Reserve Bank of India was nationalised with effect from 1st January, 1949 on the basis of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948. All shares in the capital of the Bank were deemed transferred to the Central Government on payment of a suitable compensation.

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