BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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1935
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1942
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1949
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1990
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Detailed explanation-1: -The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934 . The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.
Detailed explanation-2: -The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935.
Detailed explanation-3: -The name has always been Reserve Bank of India. It was established through the Reserve Bank of India (RBI) Act, 1934. It took over functions which were performed by Imperial Bank of India.
Detailed explanation-4: -Sir Osborne Smith was the first Governor of the Reserve Bank.