RBI will celebrate 90 years of its establishment on 1 April, President Draupadi Murmu will attend

The Reserve Bank of India (RBI) is going to celebrate 90 years of its establishment on 1 April 2025 at its Mumbai headquarters. In this program, the President of the country Draupadi Murmu, Union Minister of Communications Jyotiraditya Scindia, Maharashtra's Chief Minister Devan Fadnavis, and RBI's Governor Sanjay Malhotra will be present. In this program, the RBI Governor will give his welcome address and will also remember the past 90 years of work of RBI.

The Reserve Bank of India (RBI) also announced the dates of the panel for the determination of the fiscal year 2025-26's rate of interest in April. RBI will be holding its first new financial year meeting on 7 and 9 April 2025. In which the rate of interest is to be decided. Six meetings of the Monetary Policy Committee will be held for the fiscal year from 1 April 2025. The Monetary Policy Committee, headed by RBI Governor Sanjay Malhotra, cut the repo rate by 25 basis points in the month of February 2025 and brought it down to 6.25 percent. It was the first cut since the month of May 2020. Another cut is expected by the market analysts in the MPC meeting, which will be held in the month of April.

The country's Reserve Bank of India (RBI) started its functioning on 1 April 1935. It was established in the twentieth century based on the recommendations of the Hilton Young Commission. Sir Osborn Smith was appointed its first governor. RBI was established to regulate the issue of currency notes, ensure monetary stability maintain foreign exchange reserves and operate the country's credit and currency system for profit. After independence, RBI also served as the central bank of Pakistan until 1948, when the State Bank of Pakistan was established. After India's independence, it was nationalized in 1949.