100 years of Hilton Young Commission

In July 1926, Royal Commisison on Currency and Finance under the chair Edward Hilton Young submitted its report. The Hilton Young Commission constituted to study the problems of currency and exchange rate became famous for its recommendation to establish a central bank in India. Eight years later the Reserve Bank of India Act (1934) was passed and in 1935 RBI came into being. My piece in Financial Express on the 100th anniversary of the HYC Report which marks an important milestone in India’s...