RBI is the central banking institution of India and controls the monetary policy of the rupee as well as US$300. Billion (2010) of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934. The share capital was divided into shares of Rs. 100 each fully paid which was entirely owned by private shareholders in the beginning.
RBI is the central banking institution of India and controls the monetary policy of the rupee as well as US$300. Billion (2010) of currency reserves. The institution was established on 1 Apr…