The correct answer is 1949. 1934-The British enacted the Reserve Bank of India Act. 1935-Reserve Bank of India was established on the 1st of April in Calcutta. 1937-Reserve Bank of India was permanently moved to Mumbai. 1949-Got nationalized after independence. Additional InformationReserve Bank of IndiaThe concept of the Reserve Bank of India was based on the strategies formulated by Dr Ambedkar in his book named œThe Problem of the Rupee - Its origin and its solution. This central banking institution was established based on the suggestions of the œRoyal Commission on Indian Currency & Finance in 1926. This commission was also known as Hilton Young Commission. In 1949, the Reserve Bank of India was nationalized and became a member bank of the Asian Clearing Union. RBI regulates the credit and currency system in India. The chief objectives of the RBI are to sustain the confidence of the public in the system, protect the interests of the depositors, and offer cost-effective banking services like cooperative banking and commercial banking to the people.