Which financial institution was founded in 1935 following

Solution

The Reserve Bank of India (RBI) was established in 1935 based on the recommendations provided by the Hilton-Young Commission of 1926. The RBI Act of 1934 created the framework for its formation. Initially established as a privately owned institution, it was nationalized in 1949 following India's independence. As India's central bank, the RBI plays a crucial role in monetary policy development, currency issuance, and financial regulation.