Question

What is the name of the Central Bank of India?
A) State Bank of India.
B) Central Bank of India.
C) Reserve Bank of India.
D) Bank of India.

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Answer 1

Answer:

Reserve Bank of India

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Answer 2

Explanation:

option C) is the right answer Reserve Bank of india.

The Reserve Bank of India (RBI) is the central bank of India, which was established on Apr. 1, 1935, under the Reserve Bank of India Act. The Reserve Bank of India uses monetary policy to create financial stability in India, and it is charged with regulating the country’s currency and credit systems.

KEY TAKEAWAYS

• The Reserve Bank of India (RBI) is the central bank of India,
• The RBI was originally set up as a private entity in 1935, but it was nationalized in 1949.
• The main purpose of the RBI is to conduct consolidated supervision of the financial sector in India, which is made up of commercial banks, financial institutions, and non-banking finance firms.

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