<P> The Reserve Bank of India ( RBI ) is India 's central banking institution , which controls the monetary policy of the Indian rupee . It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act , 1934 . The original share capital was divided into shares of 100 each fully paid , which were initially owned entirely by private shareholders . Following India 's independence on 15 August 1947 , the RBI was nationalised on 1 January 1949 . </P>
<P> The Reserve Bank of India ( RBI ) is India 's central banking institution , which controls the monetary policy of the Indian rupee . It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act , 1934 . The original share capital was divided into shares of 100 each fully paid , which were initially owned entirely by private shareholders . Following India 's independence on 15 August 1947 , the RBI was nationalised on 1 January 1949 . </P>
when was reserve bank of india taken over by the government
when was reserve bank of india taken over by the government
1 January 1949
1 January 1949