detail description of rbi

1. RESERVE BANK OF
INDIA

2.  The Reserve Bank of India is India's central
banking Institution, which controls the monetary
policy of the Indian rupee.
 It commenced its operations on 1 April 1935 during
the British Rule in accordance with the provisions of
the Reserve Bank of India Act, 1934.
 The original share capital was divided into shares of
100 each fully paid, which were initially owned
entirely by private shareholders .
 RBI was Nationalised on 1 January 1949.

3.  It was set up on the recommendations of the Hilton
Young Commission.
 It was started as share holders bank with a
paid up capital of RS 5 crores.
 It was established on 1 April 1935.
 Initially it was located in Kolkata.
 It was nationalised on 1 January 1949.
 Since nationalisation in 1949 the RBI fully owned by
the government of INDIA.

4.  Its first governor was Sir Osborne A.Smith(1st
April 1935 to 30th June 1937).
 The first Indian governor was Sir Chintaman D.
Deshmukh (11th august 1943 to 30th June 1949).

5. Main objectives of RBI –
 To manage the monetary and credit system of the country.
 To stabilizes internal and external value of rupee.
 For balanced and systematic development of banking in the
country.
 For the development of organized money market in the
country.
 For proper arrangement of agriculture finance.
 For proper arrangement of industrial finance.
 For proper management of public debts.
 To establish monetary relations with other countries of the
world and international financial institutions.
 For centralization of cash reserves of commercial banks.
 To maintain balance between the demand and supply of
currency.

7.  RBI was established with paid up capital of Rs. 5
crores which is managed by the central board of
directors.
 The organization of RBI can be divided into three
parts:
1) Central Board of Directors.
2) Local Boards
3) Offices of RBI

8.  Markets
 Regulation and Supervision
 Research
 Services
 Support

9.  26 departments
 26 regional offices and branches
 Training centres
 Research institute

10.  Central Board of Directors of RBI
Governor - Dr Raghuram Rajan
Deputy governor - Shri HR Khan
Deputy governor - Dr Urjit R Patel
Deputy governor - Shri R Gandhi
Deputy governor - Shri S.S Mundra

11.  Local board of directors of RBI
 Eastern area
Dr Nachiket M. Mor
Ms Anita Kumari
Shri Sharif UZ-Zaman Laskar
 Western area
Shri Kiran S Karnik

12.  Northern area
Shri Anil Kakodkar
Shri a Naveen Bhandary
 Southern area
Shri k Selvaraj
Shri Kiran Pandurang

13. In his first statement as governor of the Reserve Bank
of India (RBI) Raghuram Rajan outlined his vision to
reform India's financial system – including a raft of
initiatives on financial inclusion and short-term
measures to help ease the country's currency woes.

14. The RBI is on a mission mode to carry forward the
financial inclusion drive that has been initiated by the
government to bring in more under banked and
unbanked people under its fold.