The Reserve Bank of India was established on April 1, 1935. It is one of the few central banks to document its institutional history.
The Reserve Bank seeks to establish an institutional infrastructure for agricultural and long-term industrial credit in India.In 1926, the Hilton Young Commission recommended the establishment of the Reserve Bank of India. This bank was nationalized in 1949.
The Bank has put in place a modern payment and settlement system and is striving to strengthen the financial sector.