Shaktikanta Das nominated on RBI Central Board

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✸ The Union Govt. has appointed Economic Affairs Secretary Shaktikanta Das to the Central Board of Directors of the Reserve Bank.The nomination of Das is effective October 30, 2015 and until further orders. Das is a 1980 batch IAS officer of Tamil Nadu cadre officer.

✸ The affairs of RBI are governed by the central board of directors, appointed by the government in keeping with the Reserve Bank of India Act are governed by the central board of directors, appointed by the government in keeping with the Reserve Bank of India Act.

Facts to know about RBI :-

✸ The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.

✸ The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.

✸ Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India. The RBI plays an important part in the Development Strategy of the Government of India.

Facts to know about Central Board of Directors of RBI :-

✸ The superintendence and direction of the RBI is entrusted with the 21-member Central Board of Directors.

Composition :-

✸ The Governor

✸ 4 Deputy Governors

✸ 2 Finance Ministry representatives

✸ 10 government-nominated directors

✸ 4 directors to represent local boards headquartered at Mumbai, Kolkata, Chennai and New Delhi.