The Reserve Bank of India is the central bank of India, set up in 1935 under the Reserve Bank of India Act of 1934. It began its work in Calcutta and moved its headquarters to Bombay in 1937. At first it was a privately owned institution, but it was nationalized in 1949, after independence. It issues the currency, manages the money supply and foreign exchange, regulates banks and acts as banker to the government. It also plays a role in the country's economic planning and in its development of financial institutions. The first governor was the British official Sir Osborne Smith.
Before and after
- 8 January 1935Birth of Elvis Presley
- 16 January 1935Establishment of Rapa Nui National Park
- 31 January 1935Birth of Kenzaburō Ōe
- 26 February 1935Watson-Watt demonstrates radar at Daventry
- 1 April 1935Founding of Reserve Bank of India
- 14 April 1935Black Sunday and the Dust Bowl
- 14 May 1935Founding of Griffith Observatory
- 20 May 1935Birth of José Mujica
- 31 May 1935Founding of 20th Century Studios
More in Society, economy & sport
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- from 1919 to 1946Founding of League of Nations
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- from 13 July 1930 to 30 July 1930The first FIFA World Cup is played in Uruguay
The era
This moment belongs to the Modern era (1914 CE to 1945 CE), world wars and a changing world. You can also browse everything in the 20th century.