The Reserve Bank of India (RBI) is the central bank of India. It is responsible for the formulation and implementation of monetary policy, the regulation and supervision of the financial system, and the management of foreign exchange and gold reserves. The RBI also plays a crucial role in promoting financial inclusion and maintaining stability in the financial system. It is headquartered in Mumbai, and is governed by a central board of directors appointed by the Government of India.The Reserve Bank of India (RBI) is the central bank of India and is responsible for the monetary policy of the Indian rupee. It was established in 1935 under the Reserve Bank of India Act, and it plays a crucial role in the development and regulation of the financial system in India.The RBI is responsible for issuing currency, regulating the supply of money in the economy, and ensuring the stability of the financial system. It does this by setting interest rates, controlling the availability of credit, and regulating the activities of financial institutions.The RBI is also responsible for the supervision and regulation of the banking sector in India. It sets standards for banks, monitors their performance, and takes corrective action when necessary to ensure the stability of the financial system.In addition, the RBI manages the foreign exchange reserves of India and plays a key role in promoting financial inclusion, particularly in rural and underserved areas of the country.
The RBI is governed by a central board of directors, which is appointed by the Government of India. The board consists of a governor, four deputy governors, and other members. The governor is the chief executive of the RBI and is responsible for the overall management of the bank.
