From the following which is correct about RBI:

i. RBI was set up based on the recommendation of “Royal Commission on Indian Currency & Finance” in 1926. This commission was also known as Hilton Young Commission.

ii. RBI is fully owned by the Government of India.

iii. Burma (Myanmar) seceded from the Indian Union in 1937 but the Reserve Bank continued to act as the Central Bank for Burma till April 1947.