Answer- C
Established on April 1, 1935, under the Reserve Bank of India Act, 1934, the Reserve Bank of India (RBI) initially had its Central Office in Kolkata, which was later permanently relocated to Mumbai in 1937.
The first Governor of the Bank was Sir Osborne Smith, and it was constituted as a shareholders' bank with a capital of Rs. 5 crores.
As India's central bank, the RBI regulates the country's monetary and credit system, issues currency, and manages foreign exchange reserves.
It collaborates closely with the Indian government to devise and execute monetary and fiscal policies that facilitate economic growth and stability.