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Reserve Bank of India

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The Reserve Bank of India is India’s central bank, responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system. It also manages the country’s main payment systems and works to promote its economic development. Until the Monetary Policy Committee was established in 2016, it also had full control of monetary policy in India. It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid. Following India’s independence on 15 August 1947, the RBI was nationalized on 1 January 1949  Source: Wikipedia
Reserves: ₹3,830,997 crores (US$540 billion)
Interest on reserves: 3.35% (market-determined)
Bank rate: 4.00%
Headquarters: Mumbai
Founder: British Raj
Governor: Shaktikanta Das

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