banking · In Force

Reserve Bank of India Act 1934

Constitutes RBI. 2016: MPC framework, inflation targeting (2–6% CPI). Currency issuance, banking regulation, external reserves management, payment systems oversight.

Amended

Multiple

Ministry

Ministry of Finance

Key provisions and changes

• MPC framework (2016)
• Inflation targeting 2–6%
• Currency issuance monopoly
• Payment systems oversight
• Prompt Corrective Action framework