RESERVE BANK OF INDIA
RBI Logo, Source: Wikipedia We all believe in our bank, they will pay us the money when we required but actually what's the big deal, if they say that there is no money in the bank. So we won't pay you money. You are now thinking of your mind how in the world, the bank will run out of money. Ya definitely. it's possible because banks can even bankrupt if they have more non-performing loans. To handle these kinds of situation to benefit both the customer and the bank the Reserve Bank of India(RBI) acts as a Central bank of India to regulate all the Banks with their policies. History of RBI: An Interesting fact is that the RBI is actually established by the Britishers by the "RBI Act 1934" based on the recommendations of the Hilton-Young Commission . At the Begining, the RBI was actually a Private Owned bank during the British time. But later after the Independence of India it was nationalized on 1 January 1947 and completely owned by the Governmen...
