Which of the following statements about the Reserve Bank of India is INCORRECT?

A

In 1931, the Indian Central Banking Enquiry Committee revived the issue of the establishment of the Reserve Bank of India as the Central Bank for India.

B

The Reserve Bank of India commenced operations in 1935.

C

In 1929, the Hilton Young Commission recommended the establishment of a central bank to be called the 'Reserve Bank of India'.

D

The Reserve Bank of India Act was enacted in 1934.