Question

On the basis of which one of the following Commissions, Reserve Bank of India (RBI) was established?

• A. Myrdal Commission
• B. Fulton Commission
• C. Hilton Young Commission
• D. Abhijit Sain Commission

Hint:

The Hilton Young Commission played an important role in the formation of India's central banking system.

Answer 1

The Correct Option is C

Concept:
The Reserve Bank of India was established to regulate India's monetary and banking system.

Step 1: Identify the commission related to RBI. The recommendation for establishing RBI was made by: \[ \text{Hilton Young Commission} \] also known as the Royal Commission on Indian Currency and Finance.

Step 2: Know the establishment year of RBI. RBI was established in: \[ 1935 \] under the Reserve Bank of India Act, 1934.

Step 3: Conclusion. Therefore, the correct answer is: \[ \boxed{\text{Hilton Young Commission}} \]