Reserve Bank Of India
2009-10-01Reserve Bank of India was established on 1st April 1935 and was nationalised in 1949. The RBI is owned by the Central government of India. Central board of directors govern RBI, these board of directors are appointed by the government for a period of 4 years. It is the monetary authority, which regulates and supervises the financial system. It is the issuer of currency and also the manager of foreign exchange. It acts as the banker to the government and to all the other scheduled banks. The main objective of RBI is to maintain price stability and to ensure adequate flow of credit to productive sectors.