Reserve Bank of India (RBI)

The Reserve Bank of India (RBI) is the central bank of India. It was established on April 1, 1935, in accordance with the Reserve Bank of India Act, 1934. The RBI is responsible for issuing currency, regulating the money supply, and setting interest rates. It also plays a role in the government's fiscal policy.

The RBI is governed by a central board of directors, which is headed by the governor of the RBI. The governor is appointed by the government of India for a term of three years. The other members of the board are appointed by the government of India or by the RBI itself.

The RBI has a number of functions, including:

* Issuing currency
* Regulating the money supply
* Setting interest rates
* Providing liquidity to the banking system
* Supervising and regulating banks
* Promoting financial stability

The RBI is also responsible for managing the country's foreign exchange reserves.

The RBI is an important institution in the Indian economy. It plays a key role in regulating the money supply and setting interest rates. It also provides liquidity to the banking system and supervises and regulates banks. The RBI is also responsible for managing the country's foreign exchange reserves.

The RBI has been criticized for being too conservative in its monetary policy. It has also been criticized for not doing enough to prevent financial crises. However, the RBI has also been praised for its role in stabilizing the Indian economy during times of crisis.

The RBI is a complex institution with a wide range of responsibilities. It plays a vital role in the Indian economy and its decisions have a significant impact on the lives of all Indians.