Key Points
To mark this occasion, Prime Minister Narendra Modi is flying down to Mumbai to grace the event at Mumbai's National Centre for the Performing Arts...
The RBI commenced its operations on April 1, 1935, with Sir Osborne Smith as the first Governor, responsible for functions such as currency issuance, banking services for banks and the government, and the development of rural cooperatives and agricultural credit..
Over the years, the RBI's role has expanded to cover monetary management, regulation and supervision of the financial system, management of foreign exchange, currency issuance, regulation and supervision of payment and settlement systems, and developmental roles...
The RBI's balance sheet is the outcome of the various roles it plays, from being the banker to the government, issuer of currency, maintaining price stability (inflation), and foreign exchange management..
This strategy has helped the country weather global crises like the 1997 East Asian currency crisis, the 2008 Lehman Brothers collapse and financial crisis, the 2013 taper tantrum, the COVID-19 pandemic, and more recently, the conflicts between Russia-Ukraine and Israel- Under Governor Das, the RBI has pursued a more aggressive policy of building forex reserves..
You might be interested in
India seeks to deepen forex markets with onshore NDFs
06, Apr, 23India Business News: The Reserve Bank of India (RBI) is allowing local residents to trade non-deliverable forward (NDF) contracts through local lenders with an IFSC bankin
India's forex reserves post steepest weekly decline in over 6 months
25, Aug, 23India's foreign exchange reserves (INFXR=ECI) declined to a near two-month low of $594.89 billion as of Aug. 18 and posted their steepest weekly fall in more than six months, data from the country's central bank showed on Friday.
India's forex reserves rise $1.65 billion to $586.41 billion
21, Apr, 23India's forex reserves rose $1.65 billion to $586.41 billion for the week ended April 14, data shared by the Reserve Bank of India stated on Friday. India's foreign currency assets (FCA), the biggest component of the forex reserves, saw a rise of $2.20 billion to $516.63 billion.