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    Question

    In _______ the Hilton Young Commission submitted its

    report based on which ____ was established.
    A 1926, RBI Correct Answer Incorrect Answer
    B 1921, NABARD Correct Answer Incorrect Answer
    C 1934, RBI Correct Answer Incorrect Answer
    D 1927, NABARD Correct Answer Incorrect Answer
    E 1921, Imperial Bank of India Correct Answer Incorrect Answer

    Solution

    The Hilton Young commission submitted its report in the year 1926. The Reserve Bank of India was set up on the basis of the recommendations of the Royal Commission on Indian Currency and Finance also known as the Hilton-Young Commission. The Reserve Bank of India Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935.

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