The Reserve Bank of India was nationalized in which year?
Reserve Bank of India was nationalized with effect from 1st January 1949. It’s a central bank of India under which the monetary policy of the Indian rupee is been controlled.
Reserve Bank of India got active in the year 1935 when British ruled our country. After the independence of our Country in the year 1947, Reserve Bank got nationalized after two years in 1949.
Reserve Bank of India plays an integral role in the development plans of our country and is a member of Asian Clearing Union. Policies in Reserve Bank of India is governed by a 21 member team which includes Central Board of Directors: the Governor, 4 Deputy Governors, 2 Finance Ministry representatives, 10 government-nominated directors.