Final answer:
The accurate statement in relation to Australian banking history is the establishment of the Commonwealth Bank in 1911.
Step-by-step explanation:
In relation to Australian banking history, the accurate statement is:
a. The Establishment of the Commonwealth Bank
The Commonwealth Bank of Australia was established in 1911 and was the first central bank in Australia. It was responsible for issuing currency, regulating the banking system, and providing banking services to the government, businesses, and individuals. The establishment of the Commonwealth Bank marked an important milestone in the development of modern banking in Australia.