RBI Foundation Day 2023 observed on April 1st

April 3, 2023

The Reserve Bank of India (RBI) was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
The Central Office of the RBI, initially set up in Kolkata, was permanently moved to Mumbai in 1937.
Sir Osborne Smith was the first Governor of the Bank. The Bank was constituted as a shareholders’ bank.
The RBI is the central bank of India and is responsible for regulating the country’s monetary and credit system.