Question
In _______ the Hilton Young Commission submitted its
report based on which ____ was established.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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