Reserve Bank of India(RBI): भारतीय रिज़र्व बैंक

Reserve Bank of India(RBI): भारतीय रिज़र्व बैंक

Reserve Bank of India(RBI): भारतीय रिज़र्व बैंक

Establish: 1st April 1935

Nationalize: 1st Jan 1949 (According to Act 1948) Reserve Bank of India

Headquarter: Mumbai

Paid-up Capital: 5cr

RBI 1st Governor: O. Smith

1st Indian Governor: C D Deshmukh Reserve Bank of India

Financial Year: 1st July to 31st June

Minimum Reserve System: 200cr = 115cr (Gold) + 85cr (Foreign Currency)

  • In 1926 “John Hilton Young Commission” recommended to the government to establish a central bank for India. Reserve Bank of India
  • John Hilton Young Commission is also known as “Royal Commission” on Indian currency and finance.
  • In 1934 RBI (Reserve Bank of India) Act was passed.  reserve bank of India

Board of Director of RBI: Reserve Bank of India

Total Member: 21 Reserve Bank of India

Governor: 1

Deputy Governor: 4 (2 deputy governor appointed by RBI, 1 Deputy governor by the government and 1 Deputy governor is an officer of Commercial Bank)

Director: 4 (Head of a local/zone of RBI)

Director: 10 (Experts & Different Fields)

Government Employee: 2 (Generally, 1 Secretory of Finance Minister)

The function of RBI:

  • Prices stability in credit control through monetary policy
  • As currency authority
  • Regular and supervisory function
  • Bankers to the bank
  • Bankers to the government
  • Foreign exchange manager
  • OMO (Open Market Operation)

RBI Policy:

Financial Inclusion, KYC-Norms, Micro-Finance, Banking Oman cements, NPA, CAR, BASEL-Norms, Bank Assurance, Negotiable Instrument Act., Bank Customer Relationship etc.

There are five regularizes bodies in India: Reserve Bank of India

  1. FMC – Forward Market Commission – Commodity Market
  2. SEBI – Securities and Exchange Board of India – Capital market regulator
  3. IRDA – Insurance Regulatory and Development Authority – Insurance Regulator
  4. PFRDA – Pension Fund Regulatory and Development Authority – Pension Regulator
  5. Money Market Regulator

There are four Printing Press(notes) in the country: RBI

  • Nasik (Maharashtra) – Currency note press, India Security Press
  • Devas (Madhya Pradesh) – Banknote press
  • Mysore (Karnataka) – Currency note press
  • Salboni (West Bengal) – Currency note press
  1. Security Paper Mill: Hoshangabad (Madhya Pradesh)
  2. Security Printing Press: Hyderabad (Andhra Pradesh)

Local Board of RBI:

  • Northern Zone: Delhi
  • Southern Zone: Chennai
  • Eastern Zone: West Bengal (Kolkata)
  • Western Zone: Mumbai
  • Total Regional Office: 19
  • Total Sub Regional Office: 09

Note:

  • RBI held 6 meeting in a year. There should be held 1 meeting in 3 months to review of monetary policy.
  • Rs 2 to 10000 notes are issued by RBI and Rs. 1-rupee note is issued by Finance Minister
  • The denomination of note is written in 15 languages.

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Regional Rural Bank (RRB)

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Deputy Governors of RBI

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