The Reserve Bank of India (RBI) was established on April 1 1935 under Reserve Bank of India Act, 1934. It is India's central bank and regulatory body responsible for regulation of Indian Banking system. It is managed under Ministry of Finance, India.
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Thiruppur Kumaran |
Tiruppur Kumaran, originally named Kumarswamy Mudaliar, was born on October 4, 1904, in Chennimalai, Erode District, Tamil Nadu. Kumaran is celebrated as a significant figure in India's struggle for independence, deeply inspired by Mahatma Gandhi's principles.
Kumaran's dedication to the cause of Indian independence was evident through his active participation in various protests and movements against British rule. On January 10, 1932, he led a significant protest march in Tiruppur, carrying the Indian national flag. Despite being severely beaten by the British police, Kumaran refused to let the flag touch the ground, symbolizing his unwavering commitment to the nation. This act of defiance earned him the revered title of "Kodi Kaatha Kumaran" (Kumaran who protected the flag).
Tragically, Kumaran succumbed to his injuries the following day, on January 11, 1932. His martyrdom is a poignant reminder of the countless unsung heroes who fought for India's freedom. Tiruppur Kumaran’s sacrifice continues to inspire generations, embodying the spirit of resilience, patriotism, and unwavering dedication to the nation's cause.
Kumaran was associated with the Deshabandu Youth Association, which played a crucial role in mobilizing the youth for the independence movement.
Pandit Iyothee Thass |
The Union Government is endowed with more Tax powers than the states, while the states are assigned more expenditures responsibilities than Union government. This leads to VFI between states and union. The main responsibility of finance commission (A-280) is to correct this.