Reserve Bank of India (RBI) Foundation day - 1st April

Reserve Bank of India (RBI) Foundation day - 1st April

Daily Current Affairs / Reserve Bank of India (RBI) Foundation day - 1st April

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Category : Appointment/Resignation Published on: April 04 2023

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India's central bank and regulatory body, Reserve Bank of India served 88 years till now to the nation, as the bank has observed the Foundation Day on April 1, 2023.
RBI, or the Reserve Bank of India, is the central banking institution of India.
It was established on April 1, 1935, in accordance with the Reserve Bank of India Act, 1934.
The RBI is responsible for regulating the monetary policy of India and maintaining price stability in the economy.
It also serves as the banker to the Government of India and banks in India.
RBI is governed by a central board of directors, which is appointed by the Government of India.
The Governor of RBI is the chief executive of the organization and is responsible for implementing the policies and decisions of the central board.

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