In which present-day Indian city was the Central Office of the Reserve Bank of India (RBI) originally established in the year 1935?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Kolkata.
The Reserve Bank of India (RBI), India's central banking institution, was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934. Initially, the Central Office of the RBI was located in Kolkata, then a major commercial and financial hub during British rule in India.
Kolkata (formerly Calcutta) was chosen due to its significance in trade and administration at the time. However, after India gained independence, the Central Office was permanently shifted to Mumbai in 1937, which gradually grew into the country's financial capital.
Other Options :
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Delhi – India's capital, but not the RBI’s original location.
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Mumbai – Current headquarters since 1937, not the original.
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Chennai – Important city, but not related to RBI’s early offices.