Important Information about RBI

DOWNLOAD PDF

Bank of Bank : Reserve Bank Of India 

• Name of India's central banking institution : Reserve Bank of India (RBI)RBI


• 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 4 Zonal offices,22 regional offices, most of them in state 
capitals and 9 Sub-offices


• The Executive head of RBI is known as Governor.


• RBI is controlled by the Central Board of Directors.


• Indian government appoints the directors for four years tenure. The central board of 
directors comprises Governor, four deputy governor and fifteen directors.


• 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 nationalizationof 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).


• Its financial year is from 1 July to 30 June. The emblem of RBI is a tiger and a Palm 
tree.


• The first governor of RBI was Sir Osborne Smith (1935-1937). The first Indian governor 
was CD Deshmukh (1943-1949). Manmohan Singh is the only Prime Minister who also was a 
Governor of RBI. Current Governor is Raghuram Rajan.