In which year was the RBI Bill approved?
A1934
B1931
C1933
D1935
Answer:
A. 1934
Read Explanation:
The Reserve Bank of India (RBI) was established to serve as the central bank of India, following the recommendations of the Hilton Young Commission. To create the RBI, the RBI Bill had to be passed. The RBI Bill was introduced and approved on March 6, 1934. After the bill was passed, the Reserve Bank of India officially started functioning on April 1, 1935. So, the distinction is: Approval of the RBI Bill: March 6, 1934 ✅ RBI began operations: April 1, 1935