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The Reserve Bank of India was established in 1935 based on the recommendations of the Hilton Young Commission. It was established with a share capital of Rs. 5 crores. The Reserve Bank of India Act of 1934 provides the statutory basis for its functioning. The Reserve Bank of India performs consolidated supervision of the financial sector under the guidance of the Board for Financial Supervision, whose primary objective is oversight of commercial banks, financial institutions, and non-banking finance compani
- Author
- Mannu Antil
- Language
- EN