The Reserve Bank of India is India's central bank, established April 1, 1935 under the Reserve Bank of India Act to regulate the issue of banknotes and the keeping of reserves, securing monetary stability in India and generally operating the country's currency and credit system to its advantage. Founded as a privately owned institution under British colonial administration, it was nationalized on January 1, 1949, roughly a year and a half after Indian independence, and is now fully owned by India's Ministry of Finance. Headquartered in Mumbai, it regulates the Indian banking and financial system alongside its core monetary-policy functions.
Facts
Founding Year Founding Date HeadquartersMumbai, Maharashtra, India 1 Geography
Country or Jurisdiction ServedWikidata Q944085, property P17 (country). Classification
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Sources
1. Wikipedia
Wikimedia Foundation
2. Wikidata
Wikimedia Foundation
Wikidata: Reserve Bank of India
Wikidata Q944085, class allow-list match (w-wdresolver-0926)View the Source Reserve Bank of India (Wikipedia)
Reserve Bank of India, lead section and mandate
to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage
Infobox: headquarters
Mumbai, Maharashtra, India
Article text
The preamble of the Reserve Bank of India describes the basic functions of the reserve bank as: ...to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth. -
In Category: Institutions, Infobox: established
April 1, 1935
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