Reserve Bank of India/ Important Facts about RBI Reserve Bank of India/ Important Points about RBI Reserve Bank of India
-
Reserve Bank of India (RBI) is the Central Bank Of India.
- There is only 1
central Bank in India.
- Reserve Bank of
India established on 1 April 1935 in accordance with provision of RBI Act 1934.
- Reserve Bank of
India (RBI) established on the recommendation of
Hilton-Young Commission.
- Initially RBI was
constructed as a Private share holders’ bank.
- RBI is a statutory
body.
- Emblem of RBI:
Panther and Palm Tree.
- Initially the
headquarter of RBI was in Calcutta but in 1937 it was permanently moved to Mumbai.
- The Reserve Bank of
India has 4 regional offices,15 branches and 5 sub-Offices.
- 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.
ADMINISTRATION OF RBI:
- The Executive head of RBI is known as Governor.
- The governor is associated by Four Deputy Governors.
- Governor tenure here is 3 years.
- Besides Governor and Deputy Governor, there is 1
Govt. Officer.
- Govt. is the chairman of the Bank.
NATIONALISTION OF RBI :
- RBI was nationalised on 1 JAN 1949 as Govt. acquired the
private share holding based on Banking Revolution Act 1949.
FUNCTIONS
OF RBI:
- RBI is the sole authority in India to issue Bank notes in
India.
- RBI is a Bank of Govt. and also a Banker's Bank.
- Controller of Credit.
- Custodian of Foreign Reserve.
- Exchange rate management.
- Supervising the banking system of the country.
- Promotion of exports through Refinance.
IMPORTANT
POINTS:
- First Governor of RBI - Sir Obsborne Smith
- First Indian Governor of RBI -C.D. deshmukh.
- Ist women Governor of RBI -K.J.Udeshi.
- RBI is not a Commercial Bank.
- Regional offices of RBI -22.
- RBI prints currency in 15 Languages.
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