The Government of India controls the Reserve Bank of India (RBI). RBI comes under the Ministry of Finance. RBI was nationalised on 1st January, 1949. It was established on 1st April 1935 through the Reserve Bank of India Act, 1934. RBI is headquartered 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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SIDBI – Small Industries Development Bank of India & its Functions |
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Banks Board Bureau For Public Sector Banks – Composition, Functions |
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