Reserve Bank of India

Reserve Bank of India is a central banking institution that controls the monetary policy of the Indian Rupee.

Reserve Bank of India is a central banking institution that controls the monetary policy of the Indian Rupee. The institution regulates the issue of bank notes, keeps view of the reserves to secure monetary stability, and operates the credit system of the country. Reserve Bank of India also formulates, implements, and monitors the monetary policy; prescribes broad parameters of banking operations within which the country's banking and financial system functions; manages the Foreign Exchange Management Act, 1999; Issues and exchanges or destroys currency and coins not fit for circulation; performs a wide range of promotional functions to support national objectives; performs merchant banking function for the central and the state governments; and maintains banking accounts of all scheduled banks.   Reserve bank of India has six training establishments: College of Agricultural Banking, Bankers Training College, and Reserve Bank of India Staff College, National Institute for Bank Management, Indira Gandhi Institute for Development Research (IGIDR), and Institute for Development and Research in Banking Technology (IDRBT). Reserve Bank of India was established in April 1935 and is headquartered in Mumbai, Maharashtra, India with 22 regional offices in state capitals.