Reserve Bank of India in the context of "Mysore"

The Indian rupee (symbol: ₹; code: INR) is the official currency of India. The rupee is subdivided into 100 paise (singular: paisa). The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank derives this role from powers vested to it by the Reserve Bank of India Act, 1934.

Manmohan Singh (26 September 1932 – 26 December 2024) was an Indian economist and statesman who served as the prime minister of India from 2004 to 2014. He was the fourth longest-serving prime minister after Jawaharlal Nehru, Indira Gandhi, and Narendra Modi. A member of the Indian National Congress, Singh was the first and remains the only Sikh prime minister of India. He was also the first prime minister since Nehru to be re-appointed after completing a full five-year term.

Born in Gah in what is today Pakistan, Singh's family migrated to India during its partition in 1947. After obtaining his doctorate in economics from the University of Oxford, Singh worked for the United Nations during 1966–1969. He subsequently began his bureaucratic career when Lalit Narayan Mishra hired him as an advisor in the Ministry of Commerce and Industry. During the 1970s and 1980s, Singh held several key posts in the Government of India, such as Chief Economic Advisor (1972–1976), governor of the Reserve Bank (1982–1985) and head of the Planning Commission (1985–1987). In 1991, under prime minister, P. V. Narasimha Rao, Singh was appointed as finance minister. Over the next few years, despite strong opposition, he carried out several structural reforms that liberalised India's economy. It enhanced Singh's reputation globally as a leading reform-minded economist. Subsequently, Singh was leader of the opposition in the Rajya Sabha (the upper house of the Parliament of India) during the Atal Bihari Vajpayee government of 1998–2004.

The Government of India Act 1935 (25 & 26 Geo. 5. c. 42) was an Act of Parliament of the United Kingdom. It was the constitution and governing document of British India in its final years, until its independence and partition into the dominions of India and Pakistan.

Among other innovations, the Government of India Act 1935 established Burma and Aden as separate Crown colonies (both at the time part of British India), created the Reserve Bank of India and the Federal Court of India, created public service commissions both at the provincial and federal levels, and established the province of Sindh.

Reserve Bank of India Act, 1934 is the legislative act under which the Reserve Bank of India (RBI) was formed. This act along with the Companies Act, which was amended in 1936, were meant to provide a framework for the supervision of banking firms in India.

The Imperial Bank of India (IBI) was one of the oldest and the largest commercial banks in India, and was subsequently renamed and nationalised as the State Bank of India in 1955. Initially, as per its royal charter, it acted as the central bank for India prior to the formation of the Reserve Bank of India (RBI) in 1935.