RBI Act

The Reserve Bank of India (RBI) Act is the law that establishes and governs the functions of India's central bank. It grants the RBI authority to regulate currency issuance, manage monetary policy, oversee banking operations, and maintain financial stability. The Act defines the RBI’s powers, responsibilities, and its role in supporting economic growth. It also provides a framework for the RBI to supervise banks, control inflation, and ensure a secure payment system. Overall, the RBI Act is the legal foundation that enables the RBI to perform its essential duties in maintaining a stable and sound financial system in India.