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Vol. 7, June, Issue 6

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RBI IN REGULATING CRYPTO CURRENCY: A DYNAMIC LEGISLATIVE EFFORT. RESERVE BANK OF INDIA (RBI)

Abstract

Abstract: The RBI is the central Bank of India. It was established on 1st April. 1935 in accordance with the provisions of RBI Act, 1934. It was started originally as shareholders bank and its paid capital was Rs. 5 crores since its establishment, RBI took over the function of currency issue from the Indian Government and the power of credit control from then imperial Bank of India. RBI was nationalized in the year 1945 as it was necessary for economic change in the country to use central bank as an effective instrument. Keywords: Reserve Bank of India, Crypto Currency, Covid-19 Pandemic, Monetary Policy, Ministerial Committee, New Technology

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