RBI
The Reserve Bank of India, the central bank that sets monetary policy.
The RBI was established in 1935 and is the regulator of banks, NBFCs, and the payments system. It sets the repo rate (the rate at which it lends to commercial banks), which flows through to your home loan, car loan, and FD rates. The Monetary Policy Committee meets bi-monthly. RBI also manages forex reserves and the rupee exchange rate. Banking products (savings accounts, FDs, home loans, credit cards) are RBI-regulated; market products (mutual funds, stocks) are SEBI-regulated.
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