The correct answer is Kolkata. The headquarters of RBI was located in Kolkata before shifting to Mumbai, Maharashtra. The original headquarters of RBI was in Kolkata, but in 1937, it was shifted to Shahid Bhagat Singh Marg, Mumbai. ?Important Points Reserve Bank of IndiaUnder the jurisdiction of the Ministry of Finance. Functions of RBI include:Issue of Bank NotesBanker to Government i. e. manages the banking needs of the governmentRepresents the Government of India as a member of the IMF and the World Bank. Custodian of Cash Reserves of Commercial BanksCustodian of Countrys Foreign Currency ReservesLender of Last Resort. Controller of Credit i. e. Managing money supply (Liquidity)General information about RBIHeadquarters- MumbaiGovernor- Shaktikanta Das Established on 1 April 1935 in Kolkata. Moved to Mumbai in 1937.