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The '''Reserve Bank of India''' (RBI, भारतीय रिज़र्व बैंक) is the [[central bank]] of [[India]], and was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in [[Calcutta]] but was permanently moved to [[Mumbai]] in 1937. Though originally privately owned, RBI has been fully owned by the [[Government of India]] since nationalization in 1949.

The '''Reserve Bank of India''' (RBI, भारतीय रिज़र्व बैंक) is the [[central bank]] of [[India]], and was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in [[Calcutta]] but was permanently moved to [[Mumbai]] in 1937. Though originally privately owned, RBI has been fully owned by the [[Government of India]] since nationalization in 1949.

[[Duvvuri Subbarao]] who succeeded [[Y. Venugopal Reddy]] on September 2, 2008 is the current [[Governor]] of RBI.

[[Duvvuri Subbarao]] who succeeded [[Y. Venugopal Reddy]] on September 2, 2008, is the current [[Governor]] of RBI.

The Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The commission submitted its report in the year 1926, though the bank was not set up for nine years.

The Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The commission submitted its report in the year 1926, though the bank was not set up for nine years.