The Reserve Bank of India was Created on April 1, 1935 in accordance with the provisions of This Reserve Bank of India Act, 1934.

The Central Office of the Reserve Bank was originally created in Calcutta but has been permanently transferred to Mumbai in 1937.  The Central Office is the point where the juvenile stays and at which policies are devised.

Though originally privately owned, because nationalisation in 1949, the Reserve Bank is completely owned by the Government of India.

Preamble :

The Preamble of this Reserve Bank of India explains the fundamental purposes of the Reserve Bank as:"to govern the dilemma of Bank notes and maintaining of reservations with a view to ensuring financial stability in India and normally to operate the money and credit system of the country to its benefit; to have a contemporary financial policy framework to meet with the challenge of an increasingly intricate market, to preserve price stability whilst bearing in mind the goal of expansion."? 

The RBI plays an integral Role in the Development Strategy of the Government of India.  It's a member bank of the Asian Clearing Union.  The general superintendence and management of the RBI is fraught with all the 21-member fundamental board of supervisors: the Senate; four deputy governors; 2 fund ministry agents (generally the Economic Affairs Secretary and the Financial Services Secretary); ten government-nominated supervisors to represent significant parts of India's market; and four supervisors to represent neighborhood boards headquartered in Mumbai, Kolkata, Chennai and also the capital New Delhi.  Every one of those regional boards is made up of five members that represent regional interests, the interests of both co-operative and native banks.

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