Question 1

When was the Reserve Bank of India (RBI) established?

Accepted Answer

April 1, 1935. The RBI was established on April 1, 1935 under the Reserve Bank of India Act, 1934. It was originally a private shareholders' bank and was nationalised by the Government of India on January 1, 1949. Its headquarters is located in Mumbai (formerly Bombay).

Question 2

Under which Act was the Reserve Bank of India established?

Accepted Answer

RBI Act 1934. The Reserve Bank of India Act, 1934, provided the statutory basis for the establishment of RBI. The Act came into force on January 1, 1935, and RBI commenced operations on April 1, 1935. The Banking Regulation Act, 1949, governs commercial banks but was not the founding statute of RBI.

Question 3

In which year was the RBI nationalised?

Accepted Answer

1949. The Reserve Bank of India was nationalised on January 1, 1949 through the Reserve Bank of India (Transfer to Public Ownership) Act, 1948. Before nationalisation, it was a private shareholders' institution. After nationalisation, it became fully government-owned.

Question 4

Where is the headquarters of the Reserve Bank of India located?

Accepted Answer

Mumbai. The headquarters of the Reserve Bank of India is located in Mumbai (Maharashtra). RBI was originally headquartered in Calcutta (Kolkata) when it was established in 1935 but was moved to Mumbai in 1937. It currently has 27 regional offices across India.

Question 5

Who became the Governor of RBI in December 2024?

Accepted Answer

Sanjay Malhotra. Sanjay Malhotra was appointed as the 26th Governor of the Reserve Bank of India in December 2024. He succeeded Shaktikanta Das, who served as RBI Governor from December 2018 to December 2024. Before joining RBI, Sanjay Malhotra was the Revenue Secretary in the Ministry of Finance.

Monetary Policy & RBI Tools — Set 1