Which of the following statements is correct ? (i) Reserve Bank of India was established in 1937 (ii)…
Statement (iii) is correct: section 22 of the Reserve Bank of India Act gives the Reserve Bank the sole right to issue banknotes in India. The Reserve Bank began operations…
Choose your answer
Which of the following statements is correct ?
(i) Reserve Bank of India was established in 1937
(ii) Reserve Bank of India was nationalized in 1969
(iii) As per section 22 of RBI Act, the Bank has exclusive right to issue notes in the country
(iv) C.D. Deshmukh was the first Governor of RBI
Answer and explanation
Correct answer D
Statement (iii) is correct: section 22 of the Reserve Bank of India Act gives the Reserve Bank the sole right to issue banknotes in India. The Reserve Bank began operations in 1935 and was nationalised in 1949; its first Governor was Sir Osborne Smith.
Practice for these exams
-
Maharashtra and Goa SET (MH SET)