Institutions

Election Commission of India

The Election Commission of India is the permanent constitutional body that runs the country's elections. Under Article 324 of the Constitution it holds the superintendence, direction and control of the electoral rolls and of elections to Parliament, the State Legislatures, and the offices of the President and Vice-President. A three-member commission — a Chief Election Commissioner and two Election Commissioners with equal powers — it also enforces the Model Code of Conduct once polls are called. It is the referee of Indian democracy, and its independence is the institution's central claim.

Reserve Bank of India

The Reserve Bank of India is India's central bank and monetary authority. It sets the policy interest rate through its Monetary Policy Committee, regulates and supervises banks, manages the currency and foreign-exchange reserves, and acts as banker to the government. Established in 1935 and headquartered in Mumbai, it is the institution that steers the price of money in India.