Everything you need to know about RESERVE BANK OF INDIA: news, reviews, in-depth analysis, opinion and more

The Reserve Bank of India was instituted on April 1, 1935 in Calcutta but in 1937 was shifted to Mumbai in the view to regulate the issue of money in India. RBI is generally called the bankers bank as all the nationalized and private banks have been affiliated to it and in accordance with its policies the banks run. It has a board of directors mainly from economists to operate its work smoothly. Reserve Bank of India was established with its own objectives and aims to authorize the monetary policy in India. It is the sole government organisation that issues Indian rupee-notes and coins. It regulates and supervises the financial system of India as well as operationalises the banks. RBI manages the economic infrastructure so that it can accomplish the stability of price and economic development. The Reserve Bank facilitates external trade in India, in addition handles expansion and operation of foreign exchange market in India. The central government of India recruits a governer in the Reserve Bank to execute its major issues and objectives. The 1st governer was Narain Murthy and the present is Dr Y. V. Reddy.