Reserve Bank of India (RBI)

The Reserve Bank of India is often referred to as the country's bank, the central bank, and the bank of banks. It was established on April 1, 1935. The Reserve Bank operates under the RBI Act and the Banking Regulation Act. RBI has 22 regional offices in the country, including Thiruvananthapuram. The executive power is vested in the Governing Council, which consists of the Governor and 20 members. O.A. Smith was the first Governor of the Reserve Bank. The current Governor is Shaktikanta Das. The Reserve Bank was the central bank of Myanmar until April 1947 and Pakistan until June 1948 !

Main tasks

The RBI's responsibilities include issuing the required currency notes in the country, being responsible for foreign exchange, regulating the country's banking sector and providing better guidance, acting as the government's bank, agent and advisor, regulating credit, and acting as the bank of banks.