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27th February 2016, 11:15 AM
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Join Date: May 2012
Re: Uses of Reserve Bank of India

Hello, here I am providing you the details of the main functions of the Reserve Bank of India as under:

About the RBI:

RBI is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934.

Main Functions
Monetary Authority
Issuer of Currency
Banker and Debt Manager to Government
Banker to Banks
Regulator of the Banking System
Manager of Foreign Exchange
Regulator and Supervisor of the Payment and Settlement Systems
Developmental Role

Governor
Raghuram Rajan

Currency
Indian Rupee (₹)

Reserves
US$351.92 billion

Bank rate
7.75%

Interest on reserves
4.00% (market determined)

Board directors:
Dr. Raghuram Rajan
Governor

Shri Harun R. Khan
Deputy Governor

Dr. Urjit R. Patel
Deputy Governor

Shri R. Gandhi
Deputy Governor

Shri S. S. Mundra
Deputy Governor

Dr. Nachiket M. Mor

Shri Y.C. Deveshwar

Prof Damodar Acharya

Shri Shaktikanta Das

Ms. Anjuly Chib Duggal


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