Correct option is A
The correct answer is (A) 4
Information booster:
Reserve Bank of India
- The Reserve Bank of India (RBI) is India's central bank, established on April 1, 1935, under the Reserve Bank of India Act, 1934.
- Initially headquartered in Kolkata, it moved to Mumbai in 1937.
- The RBI plays a crucial role in regulating the country's banking system, managing monetary policy, and ensuring economic stability.
Functions:
- Monetary Authority: Controls inflation, liquidity, and interest rates to maintain economic stability.
- Currency Issuance: Issues and manages the Indian currency, except coins.
- Regulator of Banks: Oversees commercial banks, cooperative banks, and financial institutions.
- Foreign Exchange Management: Manages India's foreign exchange reserves and ensures currency stability.
- Developmental Role: Promotes financial inclusion and supports rural and agricultural development.
Important Facts:
- The RBI was nationalized in 1949, making it fully owned by the Government of India.
- It acts as the banker to the government and manages public debt.
- The RBI emblem features a tiger and a palm tree, symbolizing strength and growth.
- It operates through a central board of directors appointed by the government.
- The current Governor of the RBI is Sanjay Malhotra (as of 2025).