Under which of the following act, Reserve Bank of India was set up? |ForumIAS

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Q. Under which of the following act, Reserve Bank of India was set up?

[A] Government of India Act, 1858

[B] RBI Act, 1919

[C] RBI Act, 1934

[D] Nationalization of Banks Act, 1969

Answer: C

Notes:

Explanation: The Reserve Bank of India (RBI) was set up in 1935 (by the RBI Act, 1934) as a private bank with two extra functions—regulation and control of the banks in India and being the banker of the government.

Source: Ramesh Singh

Q. Under which of the following act, Reserve Bank of India was set up?

Post-Mains Strategy Session by Mr. Ayush Sinha | ForumIAS