WHAT IS RBI

The Reserve Bank of India (RBI) is the central bank of India and acts as the regulator of the country's monetary policy. It was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The RBI plays a key role in the development and regulation of the Indian economy and is responsible for maintaining price stability, ensuring the smooth functioning of payment and settlement systems, and promoting financial stability. It is also responsible for issuing and managing the country's currency and regulating the supply of credit to banks and other financial institutions. The RBI is headquartered in Mumbai, with regional offices in various cities around India.