The correct answer is option 'C' - Establishment of RBI.

The Hilton Young Commission, also known as the Royal Commission on Indian Currency and Finance, was established in 1925. The commission was headed by Sir Hilton Young, a British economist and politician. Its primary objective was to review the Indian financial system and make recommendations for its improvement.

The commission's recommendations played a significant role in shaping the financial structure of British India and had a lasting impact on India's economic development. Here are the key points related to the Hilton Young Commission and its connection to the establishment of RBI:

1. Background:
- During the colonial era, the control of the Indian financial system was in the hands of the British government.
- There was a need to establish a central bank to regulate and control currency and credit in India.

2. Establishment of RBI:
- The Hilton Young Commission recommended the establishment of a central bank in India.
- Based on its recommendations, the Reserve Bank of India (RBI) was established in 1935.
- The RBI was given the authority to issue and manage currency, regulate the banking system, and control credit in the country.

3. Functions of RBI:
- The RBI was entrusted with the responsibility of maintaining monetary stability, promoting economic growth, and ensuring the stability of the financial system.
- It acted as the banker to the government, managed the country's foreign exchange reserves, and regulated and supervised banks and financial institutions.

4. Impact on Indian Economy:
- The establishment of RBI provided stability to the Indian financial system.
- It played a crucial role in managing the monetary policy of the country, controlling inflation, and ensuring the stability of the banking sector.
- The RBI's role expanded over the years, and it became the central pillar of India's financial system.

In conclusion, the Hilton Young Commission was instrumental in recommending the establishment of RBI. The establishment of RBI brought about significant changes in the Indian financial system and played a crucial role in the economic development of the country.