• Source:JND
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Prime Minister Narendra Modi will today address a function organised to commemorate 90 years of the Reserve Bank of India (RBI) in Mumbai. Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das will also be present during the occasion.

“Prime Minister Shri@narendramodiwill address the opening ceremony of RBI@90 on 1st April 2024 at 11 AM,” the official X handle of BJP posted.

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History of RBI:

 

The Reserve Bank of India was established on April 1, 1935, under the Reserve Bank of India Act 1934. The nationalisation of the RBI took place in 1949. It plays an important role in maintaining the stability of the exchange value of the rupee and works as an agent of India's membership at the International Monetary Fund (IMF). It is also involved in developmental and promotional activities. Besides, it manages loan programs of the Indian government. Only the reserve bank has the right to introduce the currency of different denominations.   

Modi’s vehement campaigns:

PM Modi has started a fervid campaign across the country in view of the forthcoming Lok Sabha polls. He is continuously holding public meetings and telling people about the work done by his government in the last 10 years. On Sunday, he addressed a rally in Uttar Pradesh’s Meerut. PM Modi ripped into the Opposition and said that some people were rattled because he was taking action against corruption, an apparent jibe at the recent arrests of INDIA bloc leaders by the central agencies.

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The high-stakes Lok Sabha polls will take place in seven phases starting April 19. All the political parties are actively participating in the political campaigns. The Election Commission (EC) is proactively overseeing the entire exercise amid code of conduct.