Mumbai stock exchange was recognized on a permanent basis in___________.

The correct answer is: B. 1956.

The Bombay Stock Exchange (BSE) was established in 1875, making it the oldest stock exchange in Asia. It was originally known as the Native Share & Stockbrokers’ Association. In 1956, the BSE was recognized on a permanent basis by the Government of India. The BSE is now one of the largest stock exchanges in the world, with a market capitalization of over $2 trillion.

Option A is incorrect because the BSE was established in 1875, not 1950.

Option C is incorrect because the BSE was recognized on a permanent basis in 1956, not 1957.

Option D is incorrect because the BSE was recognized on a permanent basis in 1956, not 1965.