RBI 90th Anniversary | PM Narendra Modi Celebrates 90 Years Of Reserve Bank Of India in Mumbai

The RBI was founded on April 1, 1934, but its origins can be traced back to 1925 when the Royal Commission on Indian Currency and Finance suggested the establishment of the RBI to preserve the monetary stability of the nation. The RBI was founded on April 1, 1935, and Sir Osborne Smith served as its first Governor. The RBI’s responsibilities included issuing money, providing financial services to the government and other banks, fostering the growth of rural cooperatives, and extending loans for agricultural purposes. The RBI has had 26 governors in its nine decades of existence. The current governor, Shaktikanta Das, took office in October 2021.