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The Reserve Bank of India (RBI) is the central bank of India. RBI’s operations began on the 1st of April, 1935 and it was created through the Reserve Bank of India Act, 1934. It is the RBI that devises the monetary policies of the Government of India. The RBI was originally set up as a private entity in 1935, but it was nationalised in 1949. RBI’s headquarters are located in Mumbai. Shaktikanta Das is currently serving as the 25th governor of the Reserve Bank of India. The RBI's primary objective is to carry out comprehensive supervision of the Indian financial sector, which consists of commercial banks, financial institutions, and non-banking financial firms. Restructuring bank inspections, implementing off-site surveillance of banks and financial institutions, and enhancing the role of auditors are some of the initiatives the RBI has adopted. The RBI also decides on certain ratios and rates such as CRR, SLR, Policy Repo Rate, Fixed Reverse Repo Rate, etc. through which it regulates the monetary aspects of the economy.