| Consider the following Institutions: |
| 1. The Indian currency (Fowler) Commission |
| 2. The Royal Commission (Chamberlain) on Indian finance and Currency |
| 3. The Imperial Bank of India |
| 4. The Reserve Bank of India |
| The correct chronological sequence of the establishment of these institutions is |
A) 2, 1, 3, 4
B) 1, 2, 3, 4
C) 1, 2, 4, 3
D) 2, 1, 4, 3
Correct Answer: B
Solution :
[b] The Indian Currency Committee or Fowler Committee was a government committee appointed by the British-run Government of India on 29 April 1898 to examine the currency situation in India. The Royal Commission (Chamberlain) on Indian finance and Currency 914. The Imperial Bank of India, which became the State Bank of India after independence, came into existence on January 27, 1921. The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
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