RESERVE BANK OF INDIA

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 . INTRODUCTION

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 K olkata. It was nationalised on 1 January 1949. Since nationalisation in 1949 the RBI fully owned by the government of I NDIA. HISTORY OF RBI

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

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. OBJECTIVES

6.   ORGANISATION STRUCTURE

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 STRUCTURE OF RBI

8. Markets Regulation and Supervision Research Services Support DEPARTMENTS OF RBI

9. 26 departments 26 regional offices and branches Training centres Research institute RBI IS COMPOSED OF

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 CHARACTERISTICS OF BOARD OF DIRECTORS

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 Con….

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

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.   VISION OF RBI

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. MISSION OF RBI

15. CONCLUSION