Reserve Bank of India (RBI) controls the monetary policy of the Indian currency, i.e., Rupee. It is the central banking institution. RBI in its preamble states, "to regulate the issue of Bank notes and keeping of resources with a view to securing monetary stability in India and genmerally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth."
Organisational Structure and Functions of RBI
The Reserve Bank has been created under the Reserve Bank of India Act, 1934, which provides for the organisational structure and functions of RBI. RBI is governed by a Central Board of Directors. The organisational structure of the Board comprises of a Governor who is the head of the institution, Deputy Governors, Directors being the representatives of Regional Boards, other Directors from different fields with members from the Finance Ministry. The various functions of Reserve Bank of India include monetary policies, cash and debt management of Central and State Government, Supervision and regulation of banking and non-banking financial institutions, foreign exchange management, regulation of money, government securities market and forex, issuance of currency and acts as banker to the banks and also to Government.
We have provided links to the RBI website, we have also provided links to RBI notification and master circulars.