R.F.I. stands for Rifle Factory, Ishapore (India). That rifle is basically the old British Rifle No. 1 Mk III, aka the SMLE, upgraded with more modern material to handle the 7.62 NATO cartridge, and designated the Rifle 2A; a version with a different sight was the 2A1. They were made for issue to police and paramilitary forces so as to have a common caliber with the Indian Army, which was using an Ishapore-made version of the FAL.
I think a close examination will show the "monkey" to be three elephants, an Indian national symbol.