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The Reserve Bank of India was established in 1935 under the Reserve Bank of India Act. It was initially a privately owned bank until it became publicly owned in 1949. The RBI has three main objectives - maintaining monetary stability, securing sound currency system, and fostering development. It has three fully owned subsidiaries that deal with housing, deposit insurance, and printing of bank notes. The RBI uses both traditional and developmental functions to regulate banks and promote sectors like agricult

Author

rachanaraje

Language

EN