The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. It was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934. The share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India's independence in 1947, the RBI was nationalised in the year 1949.

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