Reserve Bank of India

What Reserve Bank of India does

The Reserve Bank of India (RBI) is India's central bank, established under the Reserve Bank of India Act, 1934 and commenced operations on April 1, 1935. Nationalized in 1949, RBI is wholly owned by the Government of India and operates as an autonomous statutory body headquartered in Mumbai, with 34 regional and training offices across India and more than 10,000 employees. Its mandate covers monetary policy formulation through the Monetary Policy Committee (established 2016), currency issuance, banking regulation and supervision, foreign exchange management, and operation of the country's payment and settlement infrastructure. RBI serves as banker to central and state governments, lender of last resort to scheduled commercial banks, regulator of banks, NBFCs, and cooperative banks, and manager of foreign exchange reserves that stood at $671.6 billion as of June 12, 2026, providing 10.3 months of import cover.

RBI's technology stack includes the e-Kuber core banking platform for government securities auction and inter-bank settlement, the Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, the Account Aggregator framework for consent-based financial data sharing, and the Unified Lending Interface (ULI) as digital public infrastructure enabling lenders to access multiple data providers via AI-driven underwriting models. The Central Bank Digital Currency (e₹) is being piloted for phased implementation. NPCI, operating under RBI's regulatory oversight, has deployed AI/ML-based fraud monitoring for UPI transactions. RBI maintains the FinTech Regulatory Sandbox and the Inter-operable Regulatory Sandbox (IoRS), and operates the Reserve Bank Innovation Hub (RBIH) as a wholly-owned innovation subsidiary, alongside BRBNMPL (currency printing) and ReBIT/IFTAS (IT services).

RBI does not operate a commercial revenue model; its annual accounting surplus is transferred to the Government of India. It derives operational scale from statutory monopoly over currency issuance, mandatory reserve requirements (3% CRR, 18% SLR), and mandatory participation of all scheduled commercial banks in its payment systems. Distribution is executed through the commercial banking network, payment system operators (NPCI, CCIL), authorised foreign exchange dealers, currency chests, and 34 regional offices. Recent strategic activity has centered on regulatory modernization, including draft data governance norms (July 2026), draft FEMA Foreign Investment Rules 2026, the first perpetual AD-II licence to a non-bank (EbixCash, July 2026), and a polymer banknote trial potentially entering circulation by 2027. The Policy Repo Rate stands at 5.25%, with FY27 GDP growth forecast at 6.6% and inflation projection at 5.1%.

Name

Reserve Bank of India

Legal name

Reserve Bank of India

Website

https://rbi.org.in

Company type

Public

Founded year

1935

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Reserve Bank of India, established in 1935 and headquartered in Mumbai, is India's central bank. It formulates monetary policy, regulates banks and NBFCs, manages $671.6 billion in forex reserves, and operates RTGS, NEFT, UPI oversight, and the Digital Rupee CBDC pilot.

Ownership category

akta.pro rank

Product category

Central Banking

NAICS

Monetary Authorities-Central Bank (52111), Monetary Authorities-Central Bank (521), Monetary Authorities-Central Bank (521110), Monetary Authorities-Central Bank (5211)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Finance Services (6199), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Central Bank Reserve Management (FSAAAGAF)

akta.pro secondary industries

International Monetary & Financial Stability Institutions (BPADACAE), Financial Services Regulators (Banking, Securities, Insurance) (BPAIAOAK)

Keywords

• Central banking services
• Monetary policy management
• Banking sector regulation
• Currency issuance systems
• Payment system infrastructure

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices38 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Distribution channels6 records

Marketing channels7 records

Core offering

The Reserve Bank of India is India's central bank, established under the RBI Act 1934, with the statutory mandate to issue bank notes, maintain monetary stability, operate the currency and credit system, and regulate the financial system. It functions as banker to the Central and State Governments, banker to banks, manager of foreign exchange reserves, operator of the country's payment and settlement systems (RTGS, NEFT), and supervisor of banks, NBFCs, cooperative banks, and payment system providers. As a state-owned statutory body, RBI delivers monetary policy, banking regulation, currency management, and financial stability as public infrastructure rather than commercial products.

Product overview

The Reserve Bank of India operates as India's central bank with a comprehensive suite of financial products and services. The core offerings include the Digital Rupee (e₹) CBDC for digital currency transactions, RBI Retail Direct for government securities investment, UDGAM for unclaimed deposits tracking, and PRAVAAH for regulatory compliance. Supporting infrastructure includes the Unified Lending Interface (ULI) and Account Aggregator framework for digital lending, the FinTech Regulatory Sandbox for innovation testing, Inter-operable Regulatory Sandbox (IoRS) for multi-regulator products, and the Reserve Bank Innovation Hub (RBIH) as a wholly-owned subsidiary. The RBI DATA app provides economic data access. As a central bank, RBI's products primarily serve regulatory, supervisory, and public financial infrastructure functions rather than commercial banking services.

Differentiator

Problem solved

Functional benefit

Brands

• RBI Kehta Hai: Financial literacy and consumer awareness initiative
• RBI Retail Direct
• UDGAM
• PRAVAAH
• e-Rupee (e₹)
• Unified Lending Interface (ULI)

Products and services

• Central Bank Digital Currency (CBDC) / Digital Rupee (e₹) RBI's pilot central bank digital currency enabling digital rupee transactions, currently in phased implementation testing various use cases before final launch.
• RBI Retail Direct Portal enabling retail investors to invest in government securities directly, providing access to G-Sec investments for individual citizens.
• UDGAM (Unclaimed Deposits Gateway) Centralized Unclaimed Deposits - Tracking and Analysis System portal enabling citizens to search for unclaimed deposits across banks.
• PRAVAAH (Portal for Regulatory Application, Approval and Whistleblowing) Portal providing digital interface for regulatory approvals, applications, and compliance submissions to RBI.
• RBI DATA App Mobile application providing access to RBI's economic and financial data, statistics, and database on the Indian economy.
• FinTech Regulatory Sandbox Regulatory sandbox framework enabling live testing of innovative financial products in a controlled environment to promote responsible innovation.
• Unified Lending Interface (ULI) Centralised digital public infrastructure connecting lenders to Account Aggregators and data sources, using multiple data services to assess borrowers beyond traditional credit scores and enable faster loan decisions.
• Account Aggregator Framework Consent-based framework enabling borrowers to securely share financial information with lenders without the Account Aggregator storing it, replacing traditional paperwork-heavy loan processes.
• Inter-operable Regulatory Sandbox (IoRS) Sandbox facilitating testing of hybrid financial products falling within the regulatory ambit of multiple regulators including RBI, SEBI, IRDAI, IFSCA, and PFRDA.
• Reserve Bank Innovation Hub (RBIH) Wholly-owned RBI subsidiary established to foster innovation in the financial sector in a sustainable manner.

Quantifiable outcome

• Maintained financial system stability with NPA ratio declining to 1.73% (multi-decade low)
• +3 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core, major and supporting.

• EbixCash World Money LtdcoreOthers · 22 July 2026EbixCash became the first non-bank entity in India to receive RBI's perpetual Authorised Dealer Category-II (AD-II) licence for trade remittances, enabling it to process cross-border trade payments and family maintenance remittances up to Rs 25 lakh per transaction. The expanded licence permits direct settlement of international transactions through Nostro accounts without routing through correspondent banks, serving MSME exporters and importers across over 100 branches in 70+ cities and 20+ international airports.
• UCO BankcoreOthersUCO Bank continues facilitating sanctions-compliant rupee trade with Iran and Russia through Special Rupee Vostro Accounts under RBI's framework. Iranian accounts are limited to humanitarian trade in food, medicines, and non-sanctioned items while Russian accounts operate under RBI's broader framework.
• State Bank of India (SBI) Working GroupmajorStrategic or Co-development PartnerSBI-led working group developing a framework to help lenders identify cyber vulnerabilities from AI-enabled threats, with 25 OEMs identified for partnerships. Banks have been directed to reduce network attack surface by deploying defensive AI agents with periodic reviews of mitigation steps.
• National Payments Corporation of India (NPCI)coreTechnology or IntegrationNPCI operates as the umbrella organisation for retail payments under RBI's regulatory framework, managing UPI, RuPay, IMPS, and other payment systems. RBI oversees NPCI's operations through the Payments Regulatory Board.
• Financial Benchmarks India Private Limited (FBIL)supportingTechnology or IntegrationFBIL computes and disseminates reference exchange rates for USD/INR and other major currencies since July 10, 2018, taking over this function from RBI.
• Clearing Corporation of India Ltd (CCIL)coreTechnology or IntegrationCCIL provides clearing and settlement for money, government securities, and forex markets as financial market infrastructure under RBI's oversight.
• Foreign Banks participating in FCNR(B) SchemecoreChannel Partner/ Reseller/ DistributorForeign banks operating in India (HSBC IFSC, SBI IFSC, etc.) facilitated the lion's share of $17.4 billion FCNR(B) deposits under RBI's concessional swap facility, leveraging their stronger access to offshore dollar funding.
• International Monetary Fund (IMF)supportingOthersIMF provides surveillance and policy guidance on global financial stability, with India being an active member. RBI handles transactions relating to India's IMF membership.
• Bank for International Settlements (BIS)supportingOthersBIS serves as bank for central banks including RBI, providing cooperation on monetary policy, financial stability, and banking supervision matters.

Scale indicators20 records

Recent moves6 records

Expansion highlights6 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/RBI_India
• YouTubeyoutube.com/channel/UCIfCOl43tunZVNYafeC4RQA
• Facebookfacebook.com/reservebankofindia
• LinkedInlinkedin.com/company/reservebankofindia
• Instagraminstagram.com/reservebankofindia

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Reserve Bank of India