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Reserve Bank of India (view source)
Revision as of 00:50, November 29, 2008
, 00:50, November 29, 2008New page: The '''Reserve Bank of India''' (RBI, भारतीय रिज़र्व बैंक) is the central bank of India, and was established on April 1, 1935 in accordance with t...
The '''Reserve Bank of India''' (RBI, भारतीय रिज़र्व बैंक) is the [[central bank]] of [[India]], and was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in [[Calcutta]] but was permanently moved to [[Mumbai]] in 1937. Though originally privately owned, RBI has been fully owned by the [[Government of India]] since nationalization in 1949.
[[Duvvuri Subbarao]] who succeeded [[Y. Venugopal Reddy]] on September 2, 2008 is the current [[Governor]] of RBI.
The Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The commission submitted its report in the year 1926, though the bank was not set up for nine years.
The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage.
It has 22 regional offices, most of them in state capitals.
== References ==
{{Reflist}}
[[Duvvuri Subbarao]] who succeeded [[Y. Venugopal Reddy]] on September 2, 2008 is the current [[Governor]] of RBI.
The Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The commission submitted its report in the year 1926, though the bank was not set up for nine years.
The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage.
It has 22 regional offices, most of them in state capitals.
== References ==
{{Reflist}}