Established by statutory enactment to regulate currency, operate the credit system, and foster monetary stability with growth.
Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai 400 001.
“to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in the country and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth.”
Formulates, implements, and monitors monetary policy to maintain price stability while ensuring adequate credit flow to productive sectors.
Prescribes broad parameters of banking operations within which the country's banking and financial system functions.
Administers the Foreign Exchange Management Act (FEMA) to facilitate external trade and payments and promote orderly development of the forex market.
Issues, exchanges, and destroys currency notes and coins not fit for circulation, ensuring supply of clean notes of high quality.