How to answer the UPSC interview question: When was Reserve Bank of India established and what are its functions? How does the RBI control credit policy?

Know how the most important bank of India functions. Learn how the credit policy is managed by the RBI. Get insights on how the economy works.

The Reserve Bank of India (RBI) was established on April 1, 1935, under the Reserve Bank of India Act, 1934. It is the central bank of India and acts as the regulator of the country's monetary and financial system.

When was Reserve Bank of India established and what are its functions? How does the RBI control credit policy?

The RBI is headquartered in Mumbai and has regional offices across the country. Let’s learn about the functions of RBI and how it controls the credit policy.