{"id":131951,"date":"2023-04-03T12:29:33","date_gmt":"2023-04-03T06:59:33","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=131951"},"modified":"2023-04-03T12:29:34","modified_gmt":"2023-04-03T06:59:34","slug":"reserve-bank-of-india-rbi-foundation-day-1st-april","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/reserve-bank-of-india-rbi-foundation-day-1st-april\/","title":{"rendered":"Reserve Bank of India (RBI) Foundation day – 1st April"},"content":{"rendered":"\n

Reserve Bank of India (RBI) Foundation day – 1st April:<\/strong> The\u00a0Foundation Day of the Reserve Bank\u00a0of India\u00a0is celebrated on\u00a01st April every year.About Reserve Bank of IndiaRBI was established on\u00a0April 1, 1935\u00a0as per the provisions of the\u00a0Reserve Bank of India Act, 1934. It started functioning from 1 April 1935. The\u00a0central office of the Reserve Bank was established in Kolkata\u00a0which was permanently\u00a0shifted to Mumbai in the year 1937.<\/p>\n\n\n\n

April 2023 Current Affairs Quiz<\/a><\/strong>

It was nationalized in 1949 and now the government of India is the owner of RBI. It has the power to regulate Banks under the Banking Regulation Act 1949. It has the power to regulate the Non-Banking Financial Company (NBFC) under the RBI act 1934.

RBI is also the regulator of the digital payment system under the Payment and settlement act 2007. Before independence till 1942 RBI used to issue currency not only for India but also for Myanmar which was then known as Burma. However, it was discontinued after 1947.

Headquarters of RBI: Mumbai

Governor of RBI : Shaktikanta Das

Major functions of RBI<\/strong>

Formulation, implementation and monitoring of monetary policy. To maintain price stability keeping in view the objective of growth. Sir Osborne Smith was made the first Governor of RBI. To lay down broad norms for banking operations. To protect the interests of the depositors and to provide affordable banking services to the general public. Administration of Foreign Exchange Management Act, 1999. Issuance and exchange of currency. Role of merchant bank for central and state governments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reserve Bank of India (RBI) Foundation day – 1st April: The\u00a0Foundation Day of the Reserve Bank\u00a0of India\u00a0is celebrated on\u00a01st April every year.About Reserve Bank of IndiaRBI was established on\u00a0April 1, 1935\u00a0as per the provisions of the\u00a0Reserve Bank of India Act, 1934. It started functioning from 1 April 1935. The\u00a0central office of the Reserve Bank was […]<\/p>\n","protected":false},"author":894,"featured_media":131952,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[5010],"tags":[74,64],"class_list":["post-131951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-april-2023","tag-bank-current-affairs","tag-reserve-bank-of-india-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/131951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=131951"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/131951\/revisions"}],"predecessor-version":[{"id":131953,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/131951\/revisions\/131953"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/131952"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=131951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=131951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=131951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}