Reserve Bank of India was established on this day 82 yrs ago
The Reserve Bank of India (RBI) was established on April 1, 1935 in Calcutta as a shareholder's bank. RBI, which was nationalised in 1949, issued its first notes in 1938 bearing the portrait of King George VI. However, the bank continued to act as the Central Bank for Burma (now Myanmar) till 1947 and Pakistan till 1948.