The Key Difference Between Federal Reserve and rbi

Federal Reserve vs RBI
Feature	Federal Reserve (Fed)	Reserve Bank of India (RBI)
Establishment	Established in 1913.	Established in 1935.
Country	United States of America.	India.
Main Role	Central bank responsible for monetary policy, financial stability, and banking regulation.	Central bank responsible for monetary policy, currency issuance, and financial regulation.
Monetary Policy Tools	Open market operations, discount rate, reserve requirements.	Repo rate, reverse repo rate, cash reserve ratio, open market operations.
Governance	Led by a Board of Governors appointed by the President of the USA.	Led by a Governor appointed by the Government of India.
Currency Issued	US Dollar (USD).	Indian Rupee (INR).
Focus Areas	Control inflation, manage employment levels, regulate banks.	Maintain price stability, support economic growth, regulate banks.
Bank Regulation	Regulates and supervises commercial banks and financial institutions.	Regulates and supervises banks and non-banking financial companies (NBFCs).
Emergency Role	Acts as lender of last resort during financial crises.	Acts as lender of last resort and manages liquidity in the banking system.