RBIReserve Bank of India, desh ka central bank

The Reserve Bank of India is the country's central bank. It sets the repo rate through the Monetary Policy Committee, which moves bank lending rates and strongly affects stocks, especially banks and Bank Nifty. It manages the rupee, intervening in the currency market to smooth sharp moves in USD/INR, and it holds India's foreign exchange reserves. Under FEMA, the RBI decides what foreign exchange activity residents may undertake: it permits currency derivatives on Indian exchanges and remittances under the LRS, and it does not permit margin forex trading with overseas brokers. The RBI publishes an alert list of unauthorised forex platforms and has warned that dealing with them can attract penalties. The RBI is separate from SEBI, which regulates the securities market. Policy days, usually six a year, are high-volatility sessions for the market.