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In which year did India get its central bank, the Reserve Bank of India?
A1949
B1921
C1935
D1947
Answer & Solution
Correct answer: C. 1935
1. The central bank of a country is the institution that issues its currency and controls money supply.
2. India's central bank is the Reserve Bank of India.
3. It was established in **1935**, before independence.
4. 1949 is the year the RBI was nationalised, and 1947 is independence, so both are common traps here.
_Source: NCERT Class 12 Introductory Macroeconomics, Ch 3 "Money and Banking", section 3.2 DEMAND FOR MONEY AND SUPPLY OF MONEY_
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