The Reserve Bank of India is the country’s central bank, set up in 1935 under the Reserve Bank of India Act and nationalised in 1949. Its central office is the tall building on Shahid Bhagat Singh Road at Fort, opposite the old Mint, and the Governor and the monetary policy committee sit here. From this building the RBI sets the repo rate, regulates and supervises banks and non-banking finance companies, manages the rupee and the foreign exchange reserves, issues currency and runs the payment and settlement systems.
For Mumbai the RBI is the reason the city is the financial capital: the banks, the exchanges, the money market and the bond market all sit within a few kilometres of its central office. The RBI Monetary Museum in the Amar Building nearby is open to the public.
| Name | Reserve Bank of India |
|---|---|
| Where in Mumbai | Fort and Horniman Circle, Mumbai |
| What they do | Central bank |
| Since | 1935 |
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Bandra Kurla Complex
IDBI Bank is the former Industrial Development Bank of India, the development finance institution set up in 1964 that became a commercial bank in 2004; it is now majority-owned by the Life Insurance Corporation and the G
Ballard Estate
Exim Bank is the Government’s export credit agency, set up by Act of Parliament in 1982 to finance, facilitate and promote India’s foreign trade.
Bandra Kurla Complex
NABARD is the apex development bank for agriculture and rural India, set up in 1982 by Act of Parliament to take over the agricultural credit functions of the RBI.
Bandra Kurla Complex
SIDBI is the apex financial institution for micro, small and medium enterprises, set up in 1990; its head office is in Lucknow and its Mumbai office is in Bandra Kurla Complex, from where much of its refinance and fund-o
Nariman Point
State Bank of India is the largest bank in the country, descended from the Bank of Calcutta of 1806 through the Imperial Bank of India, and constituted in its present form in 1955.
Bandra Kurla Complex
HDFC Bank is India’s largest private sector bank, set up in 1994 among the first of the new private banks licensed after liberalisation.
Bandra Kurla Complex
ICICI Bank grew out of the Industrial Credit and Investment Corporation of India, the development finance institution set up in 1955, and became a commercial bank in 1994 before merging with its parent in 2002.
Lower Parel
Axis Bank began in 1993 as UTI Bank, promoted by the Unit Trust of India and the public-sector insurers, and took its present name in 2007.
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