Reserve Bank of India
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The Reserve Bank of India is the central bank of India founded in the year 1935. The bank was established through the provisions of the Reserve Bank of India Act, 1934.
Important functions of the bank is as follows:
The Reserve Bank of India is the central bank of India founded in the year 1935. The bank was established through the provisions of the Reserve Bank of India Act, 1934.
Important functions of the bank is as follows:
- Issuance of banknotes of all denominations
- Acts as the banker, agent and advisor to the government
- It is the lender of the last resort
- Controls the credit created by banks in India
- Custodian of the foreign exchange and gold reserves
- Supervises the activities of banks in India
- Regulates India’s financial system
The general supervision and direction of the bank is in the hands of a Central Board of Directors having 20 members.
Since its establishment the bank has adopted many reform processes to make the banking practices fairer.
The Address and Contact details of the bank is as follows:
Reserve Bank of India
Address: P.O. Box 10007 Mumbai-400 001 INDIA Phone No.: ++91-22-266 -0868; -1872 Fax: -1981
