Question

on which date does R.B.I is nationalise

Answer 1

1st January, 1949

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<> The Reserve Bank of India was nationalized from 1st January, 1949.

<>It was nationalized on the basis of the Reserve Bank of India Act , 1948

Answer 2

The Reserve Bank of India was nationalised with effect from 1st January, 1949 on the basis of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948.