Explanation:

- Option 1: 1950

- This is not the correct year of establishment for the UGC.

- The UGC was not yet formed, as India was still setting up its higher education systems post-independence.

- Option 2: 1964

- Incorrect. By this year, the UGC was already well-established.

- The UGC commenced operations much earlier.

- Option 3: 1947

- India gained independence in this year, but the UGC was not formed yet.

- Work was underway on structuring the higher education system, but the UGC wasn't formalized.

- Option 4: 1956

- This is the correct answer.

- The University Grants Commission was formally established in 1956 to coordinate, determine, and maintain standards of university education in India.