The Reserve Bank of India (RBI) is India's central bank that controls monetary policy and regulates the banking system. It was established in 1935 and is headquartered in Mumbai. The RBI performs several key functions including acting as a monetary authority, issuing currency, managing foreign exchange reserves, acting as a banker to the government and commercial banks, regulating financial institutions, and working to control inflation and promote development. It oversees regional offices and publishes various reports on economic trends.