Under which instrument was the Reserve Bank of India constituted?
Section 3 of the Reserve Bank of India Act, 1934 provides for the establishment and incorporation of the Reserve Bank of India.
Choose your answer
Under which instrument was the Reserve Bank of India constituted?
Answer and explanation
Correct answer C
Section 3 of the Reserve Bank of India Act, 1934 provides for the establishment and incorporation of the Reserve Bank of India.
Option feedback
Option A
The Constitution of India does not incorporate the Reserve Bank. Section 3 of the 1934 Act provides for its establishment and incorporation.
Option B
The legislation that constituted the Reserve Bank was enacted in 1934.
Option C
Section 3 of the Reserve Bank of India Act, 1934 provides for its establishment and incorporation.
Option D
The Reserve Bank of India Act, 1934 supplies the statutory basis.
Practice for these exams
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Uttarakhand Judicial Services