What was the initial share capital of Reserve Bank of India?
What was the initial share capital of Reserve Bank of India?
[A]Rs. 5 Crore
[B]Rs. 10 Crore
[C]Rs. 15 Crore
[D]Rs. 20 Crore
Rs. 5 Crore
RBI did not start as a Government owned bank but as a privately held bank without major government ownership. It started with a Share Capital of Rs. 5 Crore, divided into shares of Rs. 100 each fully paid up. In the beginning, this entire capital was owned by private shareholders. Out of this Rs. 5 Crore, the amount of Rs. 4,97,8000 was subscribed by the private shareholders while Rs. 2,20,000 was subscribed by central government.