The Reserve Bank of India (RBI) is the Central Bank of India which is tasked with the responsibility of regulating the Indian banking system, work on the issue and supply of Indian rupee, work on the monetary policy of the nation and has significant control over the monetary policy of India to promote growth and economic development of the country. RBI was established on 1st April 1935. RBI has its offices spread over 31 different locations in India. The headquarters of RBI is in Mumbai. You can read about the RBI – Know More About Reserve Bank of India in the given link.
Further readings:
- Bad Banks – Idea Proposed by Indian Banking Association (IBA) Due to COVID-19
- Indian Economy Notes For UPSC
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