RBI (Reserve Bank of India)

Reserve Bank of India

RBI’s FUNCTIONS:

1. Issue of currency notes
2. Controlling the monetary policy
3. Regulator and supervisor of the financial system
4. Banker to other banks
5. Banker to the government
6. Granting licenses to banks
7. Control over NBFIs (Non Banking Financial Institutions)
8. Manager of Foreign Exchange of India (also known as FOREX).



Important information on RBI
1. Reserve Bank of India started its operations on-01 Apr 1935
2. Reserve was nationalised in ---1949
3. The maximum number of Deputy Governors RBI can have--4
4. Number of regional offices of RBI --28
5. RBI can issue notes upto the value of ---Rs. 10,000/-
6. As per Indian Coinage Act 1 Re coins can be used to pay/settle ------Any amount
7. As per Indian Coinage Act 0.50 ps coins can be used to pay/settle----- Amount not exceeding Rs. 10.
8. As per Indian Coinage Act coins worth less than 0.50 ps can be used to pay/settle----- Amount not exceeding Re. 1.(no longer applicable)
9. The logo of RBI has---A palm tree and a tiger
10. The H.O. of the RBI is in---Mumbai
11. The maximum amount for which customer's deposit is insured in a bank----Rs. 1,00,000

Institutions established by RBI and Head Office
1. Deposit Insurance and Credit Guarantee Corporation--Mumbai
2. National Housing Bank --New Delhi
3. National Bank for Agricultural and Rural Development--Mumbai
4. Securities Trading Corporation of India --Mumbai
5. Bharatiya Reserve Bank Note Mudran Private Limited--Bangalore
5. Industrial and Development Bank of India - Mumbai

Governors of Reserve Bank of India (RBI)
1 Sir Osborne Smith— 1 April 1935 – 30 June 1937
2 Sir James Braid Taylor— 1 July 1937 – 17 February 1943
3 Sir C. D. Deshmukh— 11 August 1943 – 30 June 1949
4 Sir Benegal Rama Rau— 1 July 1949 – 14 January 1957
5 K. G. Ambegaonkar— 14 January 1957 – 28 February 1957
6 H. V. R. Iyengar— 1 March 1957 – 28 February 1962
7 P. C. Bhattacharya— 1 March 1962 – 30 June 1967
8 L. K. Jha— 1 July 1967 – 3 May 1970
9 B. N. Adarkar— 4 May 1970 – 15 June 1970
10 S. Jagannathan— 16 June 1970 – 19 May 1975
11 N. C. Sen Gupta— 19 May 1975 – 19 August 1975
12 K. R. Puri— 20 August 1975 – 2 May 1977
13 M. Narasimham— 2 May 1977 – 30 November 1977
14 Dr. I. G. Patel— 1 December 1977 – 15 September 1982
15 Dr. Manmohan Singh— 16 September 1982 – 14 January 1985
16 A. Ghosh— 15 January 1985 – 4 February 1985
17 R. N. Malhotra— 4 February 1985 – 22 December 1990
18 S. Venkitaramanan— 22 December 1990 – 21 December 1992
19 Dr. C. Rangarajan— 22 December 1992 – 21 November 1997
20 Dr. Bimal Jalan— 22 November 1997 – 6 September 2003
21 Dr. Y. Venugopal Reddy— 6 September 2003 – 5 September 2008
22 Dr. Duvvuri Subbarao— 5 September 2008 – 4 September 2013
23 Dr. Raghuram G. Rajan— 4 September -