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RBI foundation Day - April 01
April 5 , 2023
474 days
876
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- The Reserve Bank of India (RBI) was established on April 1, 1935.
- India’s central bank was established accordance with the Reserve Bank of India Act, 1934.
- It is responsible for regulating the monetary policy of the country and managing the nation’s currency and credit system.
- The RBI serves as the banker to the government and performs various functions such as issuing currency notes, managing foreign exchange reserves, and supervising banks and financial institutions.
- It also plays a crucial role in maintaining the stability of the financial system and promoting economic growth.
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