The Reserve Bank of India (RBI) is India’s central banking institution, established on April 1, 1935, under the Reserve Bank of India Act, 1934, and headquartered in Mumbai. Fully owned by the Government of India, its core function is to regulate the Indian banking system and manage the Indian rupee, with primary goals of maintaining monetary stability, regulating the financial system, and overseeing payment systems. Key responsibilities include formulating and implementing monetary policy, issuing and regulating currency, acting as the banker to the government, supervising and regulating banks and financial institutions, and managing foreign exchange reserves. Essentially, the RBI plays a vital role in maintaining India’s economic and financial stability.