Established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934, the Reserve Bank of India (RBI) serves as the nation's central banking institution. Initially privately owned, it was nationalized in 1949 and is now fully owned by the Government of India. The RBI's primary mission is to regulate the issuance of banknotes, maintain monetary stability, and operate the currency and credit system of the country. Its key functions include formulating and implementing monetary policy, managing foreign exchange reserves, acting as a banker to the government, and supervising the financial system, which includes commercial banks, financial institutions, and non-banking finance companies.

Founded in

India