• Name of Central Bank of India: Reserve Bank of India
(RBI)RBI
•
Reserve Bank of India Act passed in 1934.
•
Reserve Bank of India (RBI) established on 1 April 1935.
•
Reserve Bank of India (RBI) established on the recommendation of Hilton-Young
Commission.
•
Hilton-Young Commission submitted its report in the year 1926.
•
Initially RBI was constructed as a Private Share holders’ bank with fully
paid-up capital of Rs 5 Crores.
• RBI
was nationalize in the year of 1st January,1949.
• RBI
is a statutory body.
• RBI
is the sole authority in India to issue Bank notes in India.
• 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.
•
Emblem of RBI: Panther and Palm Tree.
• Initially
the headquarter of RBI was in Calcutta (Now Kolkata) but in 1937 it was
permanently moved to Mumbai, Maharastra.
• The
Reserve Bank of India has 4 Zonal offices,22 regional offices, most of them in
state capitals and 9 Sub-offices
• The
Executive head of RBI is known as Governor.
• RBI
is controlled by the Central Board of Directors.
•
Indian government appoints the directors for four years tenure. The central
board of directors comprises Governor, four deputy governor and fifteen
directors.
• The
bank has also two training colleges for its officers, viz. Reserve Bank Staff
College at Chennai and College of Agricultural Banking at Pune.
• RBI
is a member bank of the Asian Clearing Union.
•
Chintaman Dwarkanath Deshmukh (C D Deshmukh) was the governor of RBI at the
Time of nationalization of RBI in 1949.
• C D
Deshmukh, then Governor of RBI, represented India at the Bretton Woods
negotiations in 1944.
• 1st
women Deputy Governor of RBI -K.J.Udeshi.
• RBI
is not a Commercial Bank.
• RBI
prints currency in 15 Languages.
• RBI
is a member of IMF (International Monetary Fund).
• Its
financial year is from 1 July to 30 June. The emblem of RBI is a tiger and a
Palm tree.
• The first governor of RBI was Sir Osborne
Smith (1935-1937). The first Indian governor was CD Deshmukh (1943-1949).
Manmohan Singh is the only Prime Minister who also was a Governor of RBI.
Current Governor is Raghuram Rajan
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