Banking Awareness 2017 : Reserve Bank of Republic of Republic of India (RBI)
The Reserve Bank of Republic of Republic of India (RBI) is India’s Central Banking Institution, which controls the monetary policy of the Indian rupee.
Important Points to Note :
- Started in : 1st Apr 1935 nether RBI Act 1934
- Nationalized in : 1st Jan 1949
- It was established on recommendation of Hilton Young Commission.
- It is statutory trunk and its accounting twelvemonth is from July to June.
Structure of RBI
- The key board of directors is the primary commission of RBI.
- It consists of full 21 members. Including Governor together with deputy governors.
- Governor : Urjit Patel
- Pate became 24th Governor of the Reserve Bank of Republic of Republic of India (RBI) from September 2016.
- He was appointed on the recommendations of Financial Sector Regulatory Appointment Search Committee (FSRASC).
- He is 8th deputy governor in RBI’s history to last made its governor.
- He likewise worked every bit the Former Chief Economist of International Monetary Fund (IMF).
- Deputy Governors :
- B. P. Kanungo (recently appointed on tertiary Apr 2017)
- Viral V. Acharya (appointed on 23rd Jan 2017)
- N. S. Vishwanathan (appointed on fourth July 2016)
- Offices of RBI :
- RBI has four zonal offices :
- New Delhi.
- RBI has xix Regional offices :
- NIBM (National Institute of Bank Management) at Pune
- IGIDR (Indira Gandhi Institute of Development Research) at Mumbai.
- IDRBT (Institute for Development together with Research inward Banking Technology) at Hyderabad.
- NHB (National Housing Bank)
- NABARD (National Bank of Agriculture together with Rural Development)
- DICGC (Deposit Insurance together with Credit Guarantee Corporation)
- BRBNMPL (Bhartiya Reserve Bank Note Mudran Private Limited)
- The Reserve Bank staff college at Chennai.
- The college of agricultural banking at Pune.
- “Trend together with Progress of Banking inward India” is published annually every bit required yesteryear the Banking Regulation Act of 1949.
- Other publications are Financial Stability Report, Report on Currency & Finance, Monetary Policy Report & Handbook of Statistics on Indian Economy.
That’s all for straightaway friends. In our side yesteryear side lesson, nosotros shall larn nearly the Functions of RBI. Happy Reading 🙂