Political Science, asked by Tick2836, 1 year ago

Which banking institutions commenced its operations from 1april 1935?

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Answered by kishanrana3303pawz9r
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The Reserve Bank of India (RBI) (IAST: Bhāratīya Rija़rva Baiṃka) is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934.[6] The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders.[7] Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949
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