New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which financial institution was founded in 1935 following

    recommendations from the Hilton-Young Commission?
    A Bank of Baroda Correct Answer Incorrect Answer
    B State Bank of India Correct Answer Incorrect Answer
    C Central Bank of India Correct Answer Incorrect Answer
    D Reserve Bank of India Correct Answer Incorrect Answer

    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.

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