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Rbi Notes

The Reserve Bank of India (RBI) is the central bank of India established in 1935. It was established based on the recommendations of the Hilton-Young Commission and was initially a private shareholders' bank. In 1949, the RBI was nationalized and is now a statutory body responsible for issuing currency and serving as the central bank of the country. The RBI has its headquarters in Mumbai and regulates banking activities in India.

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451 views2 pages

Rbi Notes

The Reserve Bank of India (RBI) is the central bank of India established in 1935. It was established based on the recommendations of the Hilton-Young Commission and was initially a private shareholders' bank. In 1949, the RBI was nationalized and is now a statutory body responsible for issuing currency and serving as the central bank of the country. The RBI has its headquarters in Mumbai and regulates banking activities in India.

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Reserve Bank of India(RBI) - Important Points of RBI

 Name of Central Bank of India: Reserve Bank of India (RBI)


 No of Central Bank in India: One (1)
 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 19 regional offices, most of them in state capitals and
9 Sub-offices
 The Executive head of RBI is known as Governor.
 The governor is associated by Four Deputy Governors.
 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).
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