RBIturns90: Interesting facts about India’scentralbank
Establishment: The Reserve Bank of India (RBI) was established on 1 April, 1935, under the Reserve Bank of India Act
Central Bank: It serves as India’s central bank and regulates the country’s monetary policy and currency issuance
Headquarters: The RBI’s headquarters are located in Mumbai, Maharashtra, India
Governor: The RBI is headed by a Governor who oversees its operations and policymaking. Currently, Shaktikanta Das holds the position of the RBI Governor, since 2018
Monetary Authority: The RBI has the authority to issue currency and regulate the nation’s banking system
Economic Stability: The RBI plays a crucial role in maintaining price stability and promoting economic growth
Financial Supervision: It supervises and regulates banks and financial institutions to ensure their soundness and stability
Currency Management: The RBI manages the production, distribution, and withdrawal of currency notes and coins
Reserves Management: It manages India’s foreign exchange reserves to safeguard the country’s financial stability
Evolution: Over its 90-year history, the RBI has evolved to adapt to changing economic and financial landscapes