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Under Banking Regulation Act, 1934, The ...

Under Banking Regulation Act, 1934, The Reserve Bank was established in 1935 with the capital of Rs. ______

A

5 crore

B

4 crore

C

3 crore

D

2 crore

Text Solution

Verified by Experts

The correct Answer is:
A
The Reserve Bank of India was established on April 1, 1935bt the Reserve Bank of India Act, 1934 with a share capital of Rs. 5 crores on the recommendation of Hilton Young Commission.
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