Reserve Bank of India is one of the Supreme Authories in India. This article is an attempt to give you the correct overview of the Organisation.

Table of Contents

1. Establishment of Reserve Bank of India (RBI)
2. Preamble
3. Central Boards
  • Board For Financial Supervision.
  • Board for Payment and Settlement Systems.
  • Profile of Central Board Directors
  • Local Boards
  • Sitting Fees and Haiting Allowance of Board Directors/Members.
4. Legal Framework of Reserve Bank of India.
5. Main Functions of Reserve Bank of India.
6. Departments in RBI
7. Offices in RBI
8. Training Establishments of RBI.
9. Subsidiaries of RBI.

Establishment of Reserve Bank of India.

The Reserve bank of India was established on April 01, 1935 in accordance with the Reserve Bank of India Act, 1934.

The Central Office of RBI was in Kolkata initially. Eventually it shifted to Mumbai in 1937. The Central office is the office where the appointed governor sites and formulates all the policies.

Initially RBI was privately held but after nationalization, it fully became a Government of India body in 1949.

Preamble of The Reserve Bank of India

The Preamble of The Reserve bank of India describes the main function of RBI  as -

"To regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth."

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