Q:

Find the following statements Which is INCORRECT?

• 1
  The Reserve Bank of India commenced operations on 1 April 1935.
• 2
  The Reserve Bank served as the central bank of Pakistan up to April 1947.
• 3
  The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission.
• 4
  The Reserve Bank of India was nationalised in 1949.