<P> The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the First World War . The Reserve Bank of India was conceptualized based on the guidelines presented by the Central Legislative Assembly which passed these guidelines as the RBI Act 1934 . RBI was conceptualized as per the guidelines , working style and outlook presented by Bhimrao Ramji Ambedkar in his book titled `` The Problem of the Rupee -- Its origin and its solution '' and presented to the Hilton Young Commission . The bank was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance , also known as the Hilton -- Young Commission . The original choice for the seal of RBI was The East India Company Double Mohur , with the sketch of the Lion and Palm Tree . However , it was decided to replace the lion with the tiger , the national animal of India . The Preamble of the RBI describes its basic functions to regulate the issue of bank notes , keep reserves to secure monetary stability in India , and generally to operate the currency and credit system in the best interests of the country . The Central Office of the RBI was established in Calcutta ( now Kolkata ) but was moved to Bombay ( now Mumbai ) in 1937 . The RBI also acted as Burma 's ( now Myanmar ) central bank until April 1947 ( except during the years of Japanese occupation ( 1942 -- 45 ) ) , even though Burma seceded from the Indian Union in 1937 . After the Partition of India in 1947 , the bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations . Though set up as a shareholders ' bank , the RBI has been fully owned by the Government of India since its nationalization in 1949. RBI has monopoly of note issue . </P>
<P> The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the First World War . The Reserve Bank of India was conceptualized based on the guidelines presented by the Central Legislative Assembly which passed these guidelines as the RBI Act 1934 . RBI was conceptualized as per the guidelines , working style and outlook presented by Bhimrao Ramji Ambedkar in his book titled `` The Problem of the Rupee -- Its origin and its solution '' and presented to the Hilton Young Commission . The bank was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance , also known as the Hilton -- Young Commission . The original choice for the seal of RBI was The East India Company Double Mohur , with the sketch of the Lion and Palm Tree . However , it was decided to replace the lion with the tiger , the national animal of India . The Preamble of the RBI describes its basic functions to regulate the issue of bank notes , keep reserves to secure monetary stability in India , and generally to operate the currency and credit system in the best interests of the country . The Central Office of the RBI was established in Calcutta ( now Kolkata ) but was moved to Bombay ( now Mumbai ) in 1937 . The RBI also acted as Burma 's ( now Myanmar ) central bank until April 1947 ( except during the years of Japanese occupation ( 1942 -- 45 ) ) , even though Burma seceded from the Indian Union in 1937 . After the Partition of India in 1947 , the bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations . Though set up as a shareholders ' bank , the RBI has been fully owned by the Government of India since its nationalization in 1949. RBI has monopoly of note issue . </P>
where is the head office of rbi located
where is the head office of rbi located
Mumbai
Mumbai