RBI mission The RBI’s mission of safeguarding stability and protecting customers places Customer Protection at the core of our work.
We are mandated in terms of Section 35A of the Banking Regulation Act, 1949, which explicates the Power of the Reserve Bank to give directions – (1) Where the Reserve Bank is satisfied that – (a) in the 178 [public interest]; or (aa) in the interest of banking policy; or (b) to prevent the affairs of any banking company being conducted in a manner detrimental to the interests of the depositors or in a manner prejudicial to the interests of the banking company; or (c) to secure the proper management of any banking company generally, it is necessary to issue directions to banking companies generally or to any banking company in particular, it may, from time to time, issue such directions as it deems fit, and the banking companies or the banking company, as the case may be, shall be bound to comply with such directions.