Reserve Bank of India (RBI)
Overview
The Reserve Bank of India (RBI) is the central bank of India, established in 1935 pursuant to the Reserve Bank of India Act, 1934.
Key Responsibilities
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Monetary Policy: Regulates India’s monetary policy to maintain price stability and ensure adequate flow of credit to productive sectors.
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Exchange Rate Management: Manages the exchange rate of the Indian rupee to facilitate external trade and payments.
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Banking System Oversight: Oversees the functioning of the Indian banking system to ensure financial stability and soundness.
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Banker to the Government: Acts as the banker to the Government of India, providing various financial services.
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Banking Services to Financial Institutions: Provides banking services to other banks and financial institutions in India.
Leadership
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Governor: The RBI is headed by a Governor.
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Deputy Governors: There are four Deputy Governors assisting in the various functions of the RBI.