One Reply to “When did Reserve bank Of India established and who was the 1st Governor of the then RBI?”

  1. The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.

    The Central Office of the Reserve Bank has been in Mumbai since inception. The Central Office is where the Governor sits and is where policies are formulated.

    Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.

    The first governor:
    Sir Osborne A. Smith
    April 1, 1935 to June 30, 1937

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