RESERVE BANK OF INDIA

 

                         

Introduction

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It is the apex institution of the country's monetary system and financial system. 

It plays a leading role in organizing, running, supervising, regulating and developing the monetary and financial system. The design and conduct of the monetary and credit policy are its special responsibility. 

It was established on April 1, 1935 under the Reserve Bank of India Act 1934.  Initially, it was constituted as a private shareholders' bank with a fully paid- up share capital of Rs 5 crores. 

It was nationalized on January 1, 1949.

The executive head of the Bank is called the Governor who is assisted by deputy governors and other officers. 

It has a central board of directors, supplemented by four local boards at Delhi, Kolkata, Chennai and Mumbai for four regional areas: northern, eastern, southern and western respectively. 

Its head office is at Mumbai.