The Reserve Bank of India (RBI) is India's central bank, playing a pivotal role in the nation's economic landscape. It formulates and implements monetary policy...
The RBI's primary role is to regulate India's monetary policy, ensuring price stability, maintaining financial stability, and promoting economic growth. It also supervises banks and manages currency issuance.
As of early 2024, Shaktikanta Das is the current Governor of the Reserve Bank of India, appointed for a term that began in December 2018.
The RBI controls inflation primarily through monetary policy tools such as adjusting the repo rate, reverse repo rate, and cash reserve ratio (CRR) to manage liquidity and interest rates in the economy.
The MPC is a six-member committee, chaired by the RBI Governor, responsible for determining the policy interest rate (repo rate) required to achieve the inflation target set by the government.