GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Madras
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Bombay
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Calcutta
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New Delhi
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Detailed explanation-1: -The correct answer is Kolkata. The headquarters of RBI was located in Kolkata before shifting to Mumbai, Maharashtra. The original headquarters of RBI was in Kolkata, but in 1937, it was shifted to Shahid Bhagat Singh Marg, Mumbai.
Detailed explanation-2: -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-3: -The Reserve Bank of India Act of 1934 established the Reserve Bank and set in motion a series of actions culminating in the start of operations in 1935. Since then, the Reserve Bank’s role and functions have undergone numerous changes, as the nature of the Indian economy and financial sector changed.