Reserve Bank of India | Reserve bank of India Functions | Reserve bank of India established.
Content in this Article: Reserve Bank of India, Reserve bank of India functions & established Reserve bank of India headquarters & RBI Head Office, RBI functions, RBI full form & RBI Logo.
RBI is Central & Apex Bank of India, which controls the issue and supply of the Indian rupee. RBI regulates Indian Banking System.
RBI was established on 1 April 1935 in Kolkata with Rs. 5 crores capital under RBI Act 1934. In 1937 RBI head Office was shifted from Kolkata to Mumbai.
RBI was nationalized on 1st January 1949. RBI was established on the recommendation of John Hilton Young Commission (OR) Royal Commission.
01 July to 30 June is an RBI accounting year.
RBI Logo: Tiger under Palm Tree is the RBI's Symbol and Logo. The RBI Museum is in Kolkata.
RBI Headquarters/Head Office: Mumbai, India
Reserve bank of India Headquarters/Head Office
RBI head the office is in Mumbai and has four regional offices / local offices which are located in Delhi, Mumbai, Chennai, and Kolkata. RBI has 20 Regional Office and11 Sub Office.
RBI's fully Owned Subsidiary bodies:
(a) DICGC (Deposit Insurance & Credit Guarantee Corporation).
(b) BRBNMPL (Bharatiya Reserve Bank Note Mudran Private Limited)
RBI's Board of Directors (BODs)
RBI has a maximum of 21 RBI's Board of Directors one Governor, 4 Deputy Governor, 4 Director's of Zonal Office (4 wires), 10 Director's appointed by Govt. of India, 2 Director appointed by the Finance Ministry.
RBI's Board of Directors (BOD's) Maximum tenure is 4 years and the maximum tenure of RBI's Governor and Deputy Governor is 5 years.
RBI Governor & Deputy Governor appointed by Govt. of India.
RBI Governor | Reserve Bank of India Governer
RBI's first Governor was Sir Osborne Smith from Britain (1935-1937).
RBI Second Governor was Sir. James Taylor from Britain (1937-1943).
RBI First Indian Governor was c.D. Deshmukh from 1943 to1949.
RBI 25th Governor is Shakti Kanta Das (appointed for 3 years in 2018)
RBI Present Deputy Governors:
(1) B.P. Kanungo
(2) M.K. Jain
(3) Michael Patra
Note:-4th Deputy Governor has recently retired from his post in 2020 N.S. Vishwanathan.
RBI Functions | Reserve Bank of India Functions
RBI is Central & Apex Bank of India. RBI regulates Indian Banking System.
Reserve Bank of India Provides License to new Banks (under Section-22 of Banking Regulation Act 1949) and Issues currency/ Money under Section- 22 of the RBI Act 1934.
RBI prepares Monetary & Credit Policy. RBI control Money Supply & Inflation in the economy. It also manages the foreign Reserve of India.
RBI is known as Banker's Bank. RBI is the Bank, agent, and Advisor of Govt. RBI is known as the lender of last resort.
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