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What are the functions of RBI?

Updated: 8/17/2019
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12y ago

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1. Currency issue

2. Banker's Bank

3. Government Bank

4. Credit Control

5. Foreign Exchange Reserve

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Q: What are the functions of RBI?
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When the rbi started and its functions?

The Reserve Bank of India was started in the year 1935 during the British Rule. RBI is the central bank of India that regulates and supervises the operations of all the banks that operate within India. Any bank that operates inside the borders of the Indian country, have to follow the guidelines laid down by RBI.


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The Banking System of India is regulated by the Reserve Bank of India or RBI. RBI was established in the year 1935 with headquarters in Mumbai, India to oversee and supervise the banking industry in India. Every bank that functions inside the border of the country of India have to obtain prior approval from RBI before starting services and is bound to follow all the rules and guidelines laid down by them. The primary goal of RBI is to protect the citizens of the country from unfair practices which the banks may indulge in, if left unregulated/unsupervised.