Reserve Bank of India

The Reserve Bank of India (RBI) is a top banking institution of the Republic of India. The bank controls the money supply in the country.

RBI headquarters in Mumbai

History

The bank was established on 1 April 1935, when India was under British rule. The Bank was established under the Reserve Bank of India Act, 1934.^[1] The bank was nationalised in 1949.^[2]

References

↑ "Reserve Bank of India Act, 1934; retrieved 2012-6-27.
↑ "Reserve Bank of India: Platinum Jubilee", p. 6 [PDF 8 of 40]; retrieved 2012-6-27.

Other websites

Reserve Bank of India website

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[1] "Reserve Bank of India Act, 1934; retrieved 2012-6-27.

[2] "Reserve Bank of India: Platinum Jubilee", p. 6 [PDF 8 of 40]; retrieved 2012-6-27.

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