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The Reserve Bank of India (RBI) is India's Central Bank and was established over 70 years ago, on April 1, 1935. Throughout its history, it has been headquartered in Mumbai. The current HQ is in the building on the left.

The Reserve Bank of India is run by a Board of Directors appointed by the Indian Central Government. The current governor is Dr.Y.Venugopal Reddy, wh came to the post on September 6, 2003. RBI has 22 regional offices in various cities across India.

RBI's responsiblities are numerous and diverse.
  • It controls monetary policy with the aim of maintaining low inflation and an ample supply of credit to business.
  • It is the regulator and supervisor of the financial system.
  • Maintains the foreign exchange market in India.
  • Issues currency
  • Performs a wide range of roles to support Indian economic development.

Credit Card News

  • Fed OKs New York office for State Bank of India (Reuters via Yahoo! Malaysia News)
    The Federal Reserve Board said on Friday it approved the State Bank of India's application to open its third full U.S. branch, in the Jackson Heights section of New York City.


  • State Bank of India Nears Record as Profit Soars (Update2) (Bloomberg.com)
    State Bank of India, the nation's biggest by assets, rose to near a record after reporting profit that beat analysts' estimates on soaring loans.


  • India to sell 40 bln rupees of T-bills on Jan 30 (Reuters via Yahoo! Malaysia News)
    The Reserve Bank of India said on Friday it will auction 20 billion rupees of 91-day treasury bills on Jan. 30, including 15 billion rupees under the market stabilisation scheme .


  • State Bank Of India's Profit Jumps 70% In Third Quarter (Forbes)
    Largest Indian bank logs strong expansion in consumer and business lending.