Reserve Bank of India (RBI) – Important Points • Name of Central Bank of India: Reserve Bank of India (RBI) • No of Central Bank in India: One (1) • Reserve Bank of India Act passed in 1934. • Reserve Bank of India (RBI) established on 1 April 1935. • Reserve Bank of India (RBI) established on the recommendation of Hilton-Young Commission. • Hilton-Young Commission submitted its report in the year 1926. • Initially RBI was constructed as a Private Share holders’ bank with fully paid-up capital of Rs 5 Crores. • RBI was nationalize in the year of 1st January,1949. • RBI is a statutory body. • RBI is the sole authority in India to issue Bank notes in India. • RBI can issue currency notes as much as the country requires, provided it has to make a security deposit of Rs. 200 crores, out of which Rs. 115 crores must be in gold and Rs. 85 crores must be FOREX Reserves. • Emblem of RBI: Panther and Palm Tree. • Initially the headquarter of RBI was in Calcutta (Now Kolkata) but in 1937 it was permanently moved to Mumbai, Maharastra. • The Reserve Bank of India has 19 regional offices, most of them in state capitals and 9 Sub-offices • The Executive head of RBI is known as Governor. • The governor is associated by Four Deputy Governors. • The bank has also two training colleges for its officers, viz. Reserve Bank Staff College at Chennai and College of Agricultural Banking at Pune. • RBI is a member bank of the Asian Clearing Union. • Chintaman Dwarkanath Deshmukh (C D Deshmukh) was the governor of RBI at the Time of nationalization of RBI in 1949. • C D Deshmukh, then Governor of RBI, represented India at the Bretton Woods negotiations in 1944. • 1st women Deputy Governor of RBI -K.J.Udeshi. • RBI is not a Commercial Bank. • RBI prints currency in 15 Languages. • RBI is a member of IMF (International Monetary Fund). Governor: • Name: Duvvuri Subbarao (D. Subbarao) • Appointed on: On 5 September 2008 • Will Retire on: September 4, 2013 List of Deputy Governor: 1. Name: Dr.K.C.Chakrabarty 2. Name: Dr. arjit patel 3. Name: Shri Anand Sinha 4. Name: Shri H.R.Khan function ...Reserve Bank of India (RBI) is the central banking institution of India. RBI control the monetary policy Rupee as a sole controller. RBI also controls the liquidity (flow of money) in Indian Market by Changing its Policy rates and Reserve ratios. RBI have three rates: Bank Rate, CRR,SLR............................................
Posted on: Mon, 24 Jun 2013 03:50:02 +0000
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