RBI : AN INTRODUCTION

ABOUT RBI

• RBI is the Central Bank of our country.• Which Controls the MONETARY POLICY of Indian Rupee.• RBI was Established on the basis of Hilton Young

commission recommendation in April, 1935, with the enactment of RBI Act 1934.

• The main purpose of creating RBI was to separate currency and credit from Government of India.

• RBI was nationalised in 1949. After the Independence• First Indian Governor was CD Deshmukh.

HEADQUARTER’S

• Mumbai :- Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai, Maharashtra 400001.

• New Delhi :- 6, Sansad Marg, New Delhi, Delhi 110001.• Chennai :- #16, Rajaji Salai, Fort Glacis, Chennai, Tamil Nadu

600001.• KolKata :- No.15, Netaji Subhas Road, Kolkata, West Bengal

700001.NOTE:- There are 19 Regional offices and 9 sub-offices of RBI in which most of Regional offices are located in state capitals

ADMINISTRATION

• The Headquarter of RBI is in Mumbai.• There are 21 members in Central board of Directors• Structure of Central board of Directors:-

Governor

Deputy Governors

Deputy Governors

Deputy Governors

Deputy Governors

4- Executive Directors

4- Executive Directors

4- Executive Directors

4- Executive Directors

• The Central Board of Directors is the main committee of the Central Bank.

• The Government of India appoints the directors for a 4-year term.

• The Board consists of a Governor, and not more than 4 Deputy Governors, 4 Directors to represent the regional boards, 2 from the Ministry of Finance and 10 other directors from various fields.

• RBI wants to create a post of Chief Operating Officer (COO) and re-allocate work between the five of them (4 deputy Governor and COO).

• Deputy Governor ( In Current):- R Gandhi, SS Mundra, N S Vishwanathan and Viral Acharya.

• Governor (In Current):- Urjit Patel.

FUNCTIONSThe main functions of the RBI includes:-• Monetary authority.• Issue of currency except coins which are minted by the

Union Government.• Banker of Banks.• Regulator of Banking System.• Manager of foreign exchange.• Maintaining financial stability.• Detection of Fake Currency.• Alternate Governor of IMF (international monetary fund).• Economic growth.• Inflation control.

GOVERNORS OF RBI1. Osborne Smith. 2. James Braid Taylor. 3. C. D.

Deshmukh.

4. Benegal Rama Rau.

5. K. G. Ambegaonkar.

6. H. V. R. Iyengar

7. P. C. Bhattacharya 8. L. K. Jha. 9. B. N. Adarkar.

10. S. Jagannathan 11. N. C. Sen Gupta

12. K. R. Puri.

13. M. Narasimham

14. I. G. Patel. 15. Manmohan Singh

16. Amitav Ghosh.

17. R. N. Malhotra.

18.S. Venkitaramanan.

19. C. Rangarajan. 20. Bimal Jalan. 21. Y. V. Reddy.

22. D. Subbarao.

23. Raghuram Rajan. 24. Urjit patel

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