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RBI was established under which Act, following which Commission’s recommendation?

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1. RBI was established under which Act, following which Commission’s recommendation?

RBI Act, 1934, following the Hilton Young Commission

Banking Regulation Act, 1949, following the Narasimham Committee

Companies Act, 1913, following the Simon Commission

Government of India Act, 1935, following the Montagu-Chelmsford reforms

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