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.

Originally written on May 18, 2015 and last modified on May 18, 2015.

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