Reserve Bank of India Celebrates 90 Years of Financial Governance
| Topic | Details |
|---|---|
| Anniversary | 90th anniversary in 2025, marking nine decades of financial governance in India. |
| Establishment | Founded on April 1, 1935, under the Reserve Bank of India Act, 1934. |
| Nationalization | Nationalized in 1949 under the Reserve Bank (Transfer to Public Ownership) Act, 1948. |
| First Governor | Sir Osborne Smith (first Governor); Sir C.D. Deshmukh (first Indian Governor). |
| Historical Milestones | 1991: Economic liberalization; 2016: Inflation targeting and MPC introduction. |
| Monetary Policy | Regulates inflation, liquidity, and credit flow; introduced MPC in 2016. |
| Currency Issuance | Issues and manages currency, excluding Re.1 notes and coins. |
| Banking Regulation | Supervises commercial banks, NBFCs, and payment systems; implemented Basel III norms. |
| Foreign Exchange | Regulates forex under FEMA (1999); manages forex reserves. |
| Financial Inclusion | Promoted PMJDY, UPI, RuPay, and digital lending platforms. |
| Digital Banking | Launched UPI, Bharat QR, and CBDC; advanced India's digital payment ecosystem. |
| Inflation Targeting | Adopted 4% (+/-2%) inflation target in 2016. |
| Economic Reforms | Led 1991 economic liberalization; ensured stability during 2008 recession, COVID-19. |
| Future Initiatives | Expanding CBDC, promoting green banking, and enhancing global financial leadership. |