Reserve Bank Of India Action Starts here - Effects each and every corner of the society LOGO of RBI Represents? Please answer in the comments section The legal backing for the functions of the RBI can be obtained majorly from the following statues Reserve Bank Of India Act, 1934 Banking Regulation Act, 1949 Foreign Exchange Management Act, 1999, Government Securities Act, 2006, Payment and Settlement Systems Act, 2007 In this context, it is important to remember the preamble of the Reserve Bank Of India. It can be drilled down to 5 Points for ease of understanding To regulate the issue of Bank notes and K eeping of reserves with a view to securing monetary stability in India G enerally to operate the currency and credit system of the country to its advantage T o have a modern monetary policy framework to meet the challenge of an increasingly complex economy T o maintain price stability wh...