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    Question

    The establishment of the Reserve Bank of India was

    influenced by the suggestions of which commission?
    A Scott-Moncrieff Commission Correct Answer Incorrect Answer
    B Fraser Commission Correct Answer Incorrect Answer
    C Hilton Young Commission Correct Answer Incorrect Answer
    D Simon Commission Correct Answer Incorrect Answer

    Solution

    The Reserve Bank of India was set up on the basis of the recommendations of 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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