The correct answer is 1935. The Central Bank of India is known as the Reserve Bank of India which was set under the Reserve Bank of India Act, 1934. The Reserve Bank of India was established on 1st April 1935 on the recommendations of the Hilton Young Commission which was set up for reviewing the Indian currency and finance in 1920. The Central Bank (i. e. Reserve Bank of India) is entrusted with the function of guiding and regulating the Banking system of the country. About Reserve Bank of India-Headquarter - MumbaiGovernor - Shaktikanta DasDeputy Governors - BP Kanungo, M D Patra, M K Jain and the 4th is vacant.