Which of the following was established on the recommendation of the Hilton Young Commission?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. RBI.
The Reserve Bank of India (RBI) was established on the recommendation of the Hilton Young Commission, also known as the Royal Commission on Indian Currency and Finance. The commission, which was set up in 1926, recommended the creation of a central bank to manage currency and monetary policy in India. As a result, the RBI was established in 1935 to regulate the issuance of currency, manage foreign exchange, and oversee the country’s banking system, aiming to ensure monetary stability and economic growth.