The full form of RBI is the Reserve Bank of India. The Reserve Bank of India is the central bank of India, established in 1935 under the Reserve Bank of India Act. The RBI is responsible for regulating the currency supply in the economy and its credit system and creating financial stability in the country through its monetary policies. The RBI conducts consolidated supervision of the financial sector in India, which is made up of commercial banks, financial institutions, and non-banking finance firms. The RBI also manages all foreign exchange under the Foreign Exchange Management Act of 1999. The RBI acts as a regulator and supervisor of the overall financial system, which injects public confidence into the national financial system, protects interest rates, and provides positive banking alternatives to the public. Finally, the RBI acts as the issuer of national currency.