The correct answer is 1949. RBI was nationalized in the year 1949. ?Reserve Bank of India (RBI):RBI was set up on the basis of the Hilton Young Commission recommendation in April 1935, with the enactment of the RBI Act, 1934. It was nationalized on the basis of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948. Its first Governor was C. D. Deshmukh. The headquarters of RBI is in Mumbai. Current governor of RBI is Shaktikanta Das. Additional InformationQuantitative/General Credit ControlThe quantitative credit control consists of:Bank Rate:It is also called the rediscount rate. It is the rate, at which the RBI gives finance to commercial banks. Cash Reserve Ratio (CRR):The RBI (Amendment) Bill, 2006, empowers RBI to prescribe CRR“Cash that banks deposit with the RBI without any floor rate or ceiling rate. Statutory Liquidity Ratio (SLR):It is the ratio of a liquid asset, which all commercial banks have to keep in the form of cash, gold, and unencumbered approved securities equal to not more than 40% of their total demand and time deposit liabilities (ranges is 25?40%). Repo Rate:It is the rate, at which RBI lends short-term money to the bank against securities. Reverse Repo Rate:It is the rate, at which banks park short-term excess liquidity with the RBI. Open Market Operations (OMOs):Under OMOs, the RBI sells G-securities in the market. Quantitative credit controls are used to control the volume of credit and indirectly to control the inflationary and deflationary pressures caused by expansion and contraction of credit.