Chronology of Events

The Beginnings - 1926 to 1935

Date Event
1926 Royal Commission on Indian Currency (Hilton Young Commission) recommends the establishment of a central bank to be called the 'Reserve Bank of India'.
1931 Indian Central Banking Enquiry Committee revives the issue of the establishment of the Reserve Bank of India as the Central Bank for India.
5 March 1934 Reserve Bank of India Act, 1934, (II of 1934) constitutes the statutory basis on which the Bank is established.