Prime Minister Narendra Modi on Monday released a special coin to commemorate the 90th year of the Reserve Bank of India.
Alongside PM Modi, Union Finance Minister Nirmala Sitharaman, RBI Governor Shaktikanta Das, and other RBI officials were part of the event.
#WATCH | Mumbai | PM Modi releases a commemorative coin on the 90th anniversary of the Reserve Bank of India pic.twitter.com/C2tja3tKWn
April 1, 2024The finance ministry unveiled the special Rs 90 coin to mark the 90th anniversary of RBI. The coin is made of 99.99% pure silver and weighs around 40 gm. The coin honours the rich legacy of RBI and its achievements in the last nine decades.
The coin highlights the RBI emblem in the centre, accompanied by the inscription “RBI@90” beneath. It also displays the Lion Capital of the Ashoka Pillar with ‘Satyamev Jayate' and ‘Bharat' inscribed in Devanagari script. ‘INDIA' is inscribed in English.
The other side of the coin says ‘Reserve Bank of India' in Devanagari script and in English.
Address by Hon'ble Prime Minister, Finance Minister and Governor, RBI on April 01, 2024. https://t.co/Lvf5XroPBg
April 1, 2024Addressing the occasion, PM Modi said that the Reserve Bank of India has reached a historic landmark today completing 90 years of existence. He underlined that the RBI has witnessed both the pre and post-independence eras and it has created an identity around the world based on its professionalism and commitment.
PM Modi congratulated all staff on the completion of 90 years of the RBI. Deeming the present RBI staff as fortunate, he said that the policies drafted today will shape the next decade of RBI and noted that the next 10 years will take RBI to its centenary year.
"The next decade is extremely important for the resolutions of a Viksit Bharat", PM Modi said, highlighting the RBI's priority towards fast-paced growth and focus on trust and stability.
The Reserve Bank of India is the central bank of India. It was set up on the recommendations of the Hilton Young Commission and is governed by the RBI Act of 1934. The bank started its operations on April 1, 1935. The central bank serves as a regulatory body for the country's banking system.
The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated. Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.
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