The correct answer is: The Reserve Bank of India (RBI).
The RBI is the central bank of India. It was established on April 1, 1935, in accordance with the Reserve Bank of India Act, 1934. The RBI is the apex monetary authority of India and is responsible for formulating and implementing monetary policy, maintaining price stability, regulating the financial system, and promoting financial inclusion.
The RBI is governed by a central board of directors, which is headed by the governor of the RBI. The governor is appointed by the president of India on the advice of the central government. The RBI has its headquarters in Mumbai, and has branches and offices all over India.
The RBI plays a vital role in the Indian economy. It is responsible for managing the country’s foreign exchange reserves, issuing currency, and regulating the banking system. The RBI also provides financial services to the government and to the public.
The RBI is a powerful institution, and its decisions have a significant impact on the Indian economy. The RBI is often seen as a symbol of India’s economic independence.
The other options are incorrect because they are not central banks. Imperial Bank was a commercial bank that was merged with other banks to form the State Bank of India in 1955. Union Bank of India and United Bank of India are commercial banks.