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๐๏ธ
๐ฎ๐ณ Indian Economy
Reserve Bank of India (RBI)
India's central bank; regulates money, credit and banking; banker to the government since 1935
India ๐ฎ๐ณ 1935 Indian Economy
Key Facts
- 1
Established 1935 based on Hilton Young Commission (1926); nationalised 1949; headquartered in Mumbai
- 2
Functions: issues currency (โน), banker to government, regulates banks, manages foreign exchange reserves
- 3
India's forex reserves: $650+ billion (2024) โ 5th largest in world; managed by RBI for import cover
๐ Did you know? RBI was nationalised in 1949 โ it was initially privately owned; the first Indian Governor was C.D. Deshmukh (1943)
Quick Reference
Category
Indian Economy
Country
๐ฎ๐ณ India
Year / Era
1935
About
India's central bank