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Q:

The ______ was nationalised in the year 1949.

  • 1
    Union Bank of India
  • 2
    Reserve Bank of India
  • 3
    Central Bank of India
  • 4
    Imperial Bank of India
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Answer : 2. "Reserve Bank of India"
Explanation :

1. The Reserve Bank of India was nationalized on January 1, 1949.

2. Earlier, the Reserve Bank of India was a privately owned bank, established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.

2. After India's independence on 15 August 1947, RBI was nationalized on 1 January 1949.

4. After nationalization, the Reserve Bank of India came under the complete ownership of the Government of India.

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