Reserve Bank of India (RBI): About, History, Objectives and Functions CSEET - The Reserve Bank of India (RBI) is the Central Bank of India, also known as Banker’s Bank. The monetary and other banking policies of the Government of India are governed by the Reserve Bank. The Reserve Bank of India (RBI) was established on 1 April 1935 under the Reserve Bank of India Act 1934 . The Reserve Bank of India has been in Mumbai since 1937. ABOUT RBI The Reserve Bank of India is fully owned and operated by the Government of India. Introduction to the Reserve Bank the basic functions of the Reserve Bank are described as: – Controls the issue of notes – Ensuring monetary stability in India – Monetary policy framework is being upgraded to meet financial challenges. The Reserve Bank of India is governed by a central board of directors, with a 21-member central board of directors appointed by the Government of India under the Reserve Bank of India Act. Learn complete Reserve Bank of India here..
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