Its past Governor is today the prime minister of the country. It is the regulator of the nation’s finances. And it has done a good lob so far…

Founded in 1935 to respond to the economic troubles that arose after the First World War, the Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The Preamble of the Reserve Bank of India describes its basic functions as to regulate the issue of Bank Notes, to keep reserves with a view to securing monetary stability in India and generally to operate the currency and credit system in the best interests of the country. The Central Office of the Reserve Bank was initially established in Kolkata, Bengal, but was permanently moved to Mumbai in 1937.