Answer: Option C
Answer: (c)
The Reserve Bank of India (RBI) is India’s central banking institution, which controls the monetary policy of the Indian rupee. It was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934.
Following India’s independence in 1947, the RBI was nationalised in the year 1949. Though originally set up as a shareholders’ bank, the RBI has been fully owned by the Government of India since its nationalization in 1949.