The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
PREAMBLE:
The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as:
"...to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage."
MAIN FUNCTIONS
Monetary Authority:
Formulates, implements and monitors the monetary policy.
Regulator and supervisor of the financial system:
Prescribes broad parameters of banking operations within which the country's banking and financial system functions.
Manager of Foreign Exchange
Manages the Foreign Exchange Management Act, 1999.
Issuer of currency:
Issues and exchanges or destroys currency and coins not fit for circulation.
Developmental role
Performs a wide range of promotional functions to support national objectives.
Related Functions
Banker to the Government: performs merchant banking function for the central and the state governments; also acts as their banker.
Banker to banks: maintains banking accounts of all scheduled banks.
OFFICES
Has 22 regional offices, most of them in state capitals.
TRAINING ESTABLISHMENTS
Has six training establishments .Three, namely, College of Agricultural Banking, Bankers Training College and Reserve Bank of India Staff College are part of the Reserve Bank
Others are autonomous, such as, National Institute for Bank Management, Indira Gandhi Institute for Development Research (IGIDR), Institute for Development and Research in Banking Technology (IDRBT)
SUBSIDIARIES:
Fully owned: NHB, DICGC, BRBNMPL
Majority stake: NABARD
The Reserve Bank of India has recently divested its stake in State Bank of India to the Government of India.
Specialties
Central Banking, Monetary Authority, Regulator of Financial System, Issuer of Currency, Manager of Foreign Exchange, Banker to the Government, Banker to banks
New hires at Reserve Bank of India
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Came from...
NABARD (National Bank for Agriculture and Rural Development), Assistant Manager
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Reserve Bank of India Activity on LinkedIn
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Reserve Bank of India has a new Intern
Harkrishan Singh Sadana is now Intern
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Reserve Bank of India has a new Summer Intern
JayaSiva Katneni is now Summer Intern
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Reserve Bank of India has a new Manager
Venkat Bhargav Sreedhara is now Manager, was Student at Indian Institute of Management, Rohtak
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Reserve Bank of India has a new Summer Intern
Sidharth singh is now Summer Intern
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Reserve Bank of India has a new Summer Intern
Sarika Kunte is now Summer Intern
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Reserve Bank of India has a new Summer Intern
Varun Jhaveri is now Summer Intern
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Reserve Bank of India has a new Summer Intern
Benson Varghese is now Summer Intern
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Reserve Bank of India has a new Intern
Sangeeta Gahlot is now Intern
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Reserve Bank of India has a new Intern
Shalini Jalan is now Intern
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Reserve Bank of India has a new Summer Internship
Vishal Mehta is now Summer Internship
