The Reserve Bank of India was nationalised on ________.

Correct option is D

​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.

Information Booster:

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.

The Bank was constituted to
* Regulate the issue of banknotes
* Maintain reserves with a view to securing monetary stability and To operate the credit and currency system of the country to its advantage.