The Bank of Japan was established under the Bank of Japan Act (promulgated in June 1882) and began operating on October 10, 1882, as the nation's central bank. The Bank was reorganized on May 1, 1942 in conformity with the Bank of Japan Act (hereafter the Act of 1942), promulgated in February The Act of 1942 strongly reflected the wartime situation: for example, Article 1 stated the objectives of the Bank as "the regulation of the currency, control and facilitation of credit and finance, and the maintenance and fostering of the credit system, pursuant to national policy, in order that the general economic activities of the nation might adequately be enhanced." The Act of 1942 was amended several times after World War II. Such amendments included the establishment of the Policy Board as the Bank's highest decision-making body in June The Act of 1942 was revised completely in June 1997 under the two principles of "independence" and "transparency." The revised act (the Act) came into effect on April 1, 1998

The Act sets the Bank's objectives "to issue banknotes and to carry out currency and monetary control" and "to ensure smooth settlement of funds among banks and other financial institutions, thereby contributing to the maintenance of stability of the financial system." The Act also stipulates the Bank's principle of currency and monetary control as follows: "currency and monetary control by the Bank of Japan shall be aimed at achieving price stability, thereby contributing to the sound development of the national economy

It was established on 21 December 1911 by Sir Sorabji Pochkhanawala with Sir Pherozesha Mehta as Chairman,and claims to have been the first commercial Indian bank completely owned and managed by Indians a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai. The bank has 3,563 branches and 270 extension counters across 27 Indian states and three Union Territories.

To help ensure the monetary stability of the country. - To assist in regulating the financial system of the country, - To formulate, implement and monitor the monetary policy. - To maintain the liquidity in the country. - To ensure adequate flow of credits. - Prescribes parameters for banking in the country. - Maintain public confidence in the system. - To manage the foreign exchange Management Act. - To facilitate external trade. - Issue and exchange currency. - Maintain supply of currency. - Own and operate the depository and exchange for government bonds. - Banker to the government