When was Reserve Bank /of India established ?

Correct option is D

The correct answer is option (d): April 1935
Explanation:
The Reserve Bank of India (RBI) was established on April 1, 1935, under the provisions of the Reserve Bank of India Act, 1934.

It initially started as a private entity and was later nationalized in 1949, becoming the central bank of India responsible for regulating the country's banking and financial system.

Information Booster:

Key Facts About the Reserve Bank of India:

• Initial Setup:
  Headquarters: Initially in Kolkata, it was moved to Mumbai in 1937.
  Ownership: Initially privately owned, it was nationalized on January 1, 1949.
  
• Functions of RBI:
  Acts as the central bank of India and regulates monetary policy.
  Issues and manages Indian currency (except ₹1 notes and coins, which are issued by the Government of India).
  Regulates and supervises the banking system in India.
  Manages foreign exchange and India's forex reserves.
  Acts as the banker to the government and commercial banks.
  
• First Governor:
  Sir Osborne Smith was the first Governor of the RBI (1935–1937).
  C. D. Deshmukh was the first Indian Governor of the RBI (1943–1949).
• Significant Milestones:
  1949: Nationalization of RBI.
  1991: Played a crucial role in managing the balance of payments crisis.
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