Reserve Bank Of India - RBI


DEFINITION of 'Reserve Bank Of India - RBI'

The central bank of India, which was established on April 1, 1935, under the Reserve Bank of India Act. The RBI uses monetary policy to create financial stability in India and is charged with regulating the country's currency and credit systems.

BREAKING DOWN 'Reserve Bank Of India - RBI'

Located in Mumbai, the Reserve Bank of India serves the financial market in many ways. One of its most important functions is establishing an overnight interbank lending rate. The Mumbai Interbank Offer Rate, or MIBOR, serves as a benchmark for interest rate related financial instruments in India.

  1. Monetary Policy

    Monetary policy is the actions of a central bank, currency board ...
  2. Overnight Rate

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  3. Collateralized Borrowing And Lending ...

    A money market instrument that represents an obligation between ...
  4. Interbank Rate

    The rate of interest charged on short-term loans made between ...
  5. Foreign Exchange Dealers Association ...

    An association of banks specializing in the foreign exchange ...
  6. National Stock Exchange Of India ...

    The National Stock Exchange is India's largest financial market. ...
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  1. Who decides when to print money in India?

    The Reserve Bank of India, or RBI, manages currency in India. The bank's additional responsibilities include regulating the ... Read Full Answer >>
  2. Who decides to print money in Russia?

    The Central Bank of the Russian Federation (CBRF), like its peers in most countries, is the governmental entity responsible ... Read Full Answer >>
  3. Who decides to print money in Canada?

    In Canada, new money comes from two places: the Bank of Canada (BOC) and chartered banks such as the Toronto Dominion Bank ... Read Full Answer >>
  4. Is Mexico an emerging market economy?

    Mexico meets all the criteria of an emerging market economy. The country's gross domestic product, or GDP, per capita beats ... Read Full Answer >>
  5. Is Japan an emerging market economy?

    Japan is not an emerging market economy. Emerging market economies are characterized by low per capita incomes, poor infrastructure ... Read Full Answer >>
  6. How is the Federal Reserve audited?

    Contrary to conventional wisdom, the Federal Reserve is extensively audited. Politicians on the left and right of a populist ... Read Full Answer >>

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