![]() ![]() In 1921, the Imperial Bank of India was set up to proceed as the national bank of India by the British Government. So, without any further delay let's start the blog with the history of the Reserve Bank of India. So, here, we will discuss several things related to the Reserve Bank of India such as the history of RBI, its objectives, functions, list of governors of RBI, recent news, and many more. So, after reading this you can realize that the Reserve Bank of India plays a vital role in the financial market. It makes rules and regulations for all the banks working in India and also works for the economic development of our country. However, after the independence of India in the year 1947, it was nationalized.īesides being the national bank for currency circulation, RBI has some other functions also. It began its operation on the 1st of April,1935. It is basically responsible for the circulation and legalization of any type of currency in India. ![]() When we talk of economics and banking, RBI is the supreme body. ![]() It is the one who is responsible for the issue and supply of the Indian rupee. Reserve Bank of India or RBI is the central bank of India. "For monetary transmission to occur, lending rates have to be sensitive to the policy rate, it was observed that base rates based on marginal cost of funds are more sensitive to changes in the policy rates"- The RBI ![]()
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