• 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.
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