The correct answer is C. 1949.
The Reserve Bank of India (RBI) was established on April 1, 1935, in accordance with the Reserve Bank of India Act, 1934. The RBI was nationalized on January 1, 1949, by the RBI (Nationalization) Act, 1948.
The RBI is the central bank of India. It is responsible for formulating and implementing monetary policy, regulating the financial system, and issuing currency. The RBI is also the banker to the government of India and the banker’s bank.
The RBI is a statutory body with a board of directors. The board is appointed by the government of India. The RBI is headquartered in Mumbai.
The RBI has a number of functions, including:
- Formulating and implementing monetary policy
- Regulating the financial system
- Issuing currency
- Acting as the banker to the government of India
- Acting as the banker’s bank
- Supervising and regulating banks
- Promoting the development of the financial system
- Conducting research on monetary and financial matters
- Providing financial services to the government and the public
The RBI is an important institution in the Indian economy. It plays a key role in maintaining financial stability and promoting economic growth.