Correct Answer: 1935

Solution : The correct answer is (c) 1935.

The Reserve Bank of India was established on April 1, 1935, based on the recommendations of the Hilton Young Commission. It was originally established as a private shareholders' bank but was nationalized in 1949, becoming fully owned by the Government of India. The RBI serves as the central banking institution of India and is responsible for the regulation and supervision of the country's banking system, monetary policy formulation, currency issuance, and management of foreign exchange reserves.