Reserve Bank Of India IFSC Code and MICR Code

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About Reserve Bank Of India

The central banking institution of India - known as The Reserve Bank of India (RBI) - is responsible for monetary policy regarding the Indian rupee. The institution was officially founded in 1935 and has been playing a key role at the heart of the Development Strategy of the Government of India for many years. As in other countries, The Reserve Bank of India (RBI) isn't a conventional bank in the typical sense and does not offer direct banking or financial services to everyday consumers or businesses. Instead, the RBI provides a variety of important financial services for the industry and the economy as a whole, such as control of inflation, storage of foreign exchange reserves and so on. As such, The Reserve Bank of India (RBI) is often referred to as "the bank of banks".