Consider the following statements with respect to the Reserve Bank of India
1. RBI was set up under the RBI Act 1934
2. It was set up on the recommendation of Hilton Young Commission

1 only

No worries! We‘ve got your back. Try BYJU‘S free classes today!

2 only

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Both 1 and 2

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Both 1 and 2
The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934

Suggest Corrections

Similar questions

Q82. With reference to NABARD, consider the following statements.

1. It was established by an act of the Parliament.

2. It was established based on the recommendations of the Committee set up by the Reserve Bank of India (RBI) under the chairmanship of Shri B. shivaraman.

Which of the above statement(s) is/are correct?

Q. Consider the following statements and choose the correct option regarding the Reserve Bank of India (RBI).

A: The RBI prints all coins and currency notes in India.

B: The RBI is headquartered in New Delhi.

C: The RBI was established through the Reserve Bank of India Act, 1934.

Q. On which committee's recommendations, the Reserve Bank of India (RBI) will set up Public Credit Registry (PCR) to check loan defaults?

Q. ______ Committee was set up to decide on the transfer of RBI reserves to government

Q. The Reserve Bank of India (RBI) was nationalized in the year _______.

Join BYJU'S Learning Program

Consider the following statements with respect to the Reserve Bank of India 1. RBI was set up under the RBI Act 1934 2. It was set up on the recommendation of Hilton Young Commission

The correct option is C Both 1 and 2The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934

Consider the following statements with respect to the Reserve Bank of India
1. RBI was set up under the RBI Act 1934
2. It was set up on the recommendation of Hilton Young Commission

The correct option is C Both 1 and 2
The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934