Reserve Bank of India was conceptualized according to the guidelines presented by Dr. Ambedkar to the Hilton Young Commission (also known as Royal Commission on Indian Currency and Finance) in his book, The Problem of the Rupee – Its Origin and Its Solution.

Ambedkar also knew that the problem of the rupee is eventually linked to the problem of domestic inflation. In the preface to the book version of his thesis, he pointed out: “…nothing will stabilize the rupee unless we stabilize its general purchasing power”.