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| Reserve bank of India |
ABOUT RBI
Reserve Bank of India:-
The Reserve Bank of India or the Central Bank of India was established on 1 April 1935.
Start
1) First Head Office of RBI at Calcutta (Establishment)
2) Later shifted to Mumbai in 1937
3) It was owned by the Government of India since 1949
4) First RBI Governor SIR OSBORNE SMITH
5)Completion of 87 years since establishment of RBI
Reserve bank of India Administration
Its chief director is the Governor of the Reserve Bank of India
The Reserve Bank consists of 21 members for supervision and oversight
A governor
Four Deputy Governors
Two Directors of Finance Department
Ten directors nominated by the government selected from various fields
and four representatives from four regional mandals at Calcutta, Mumbai, Chennai, and Delhi.
Functions of Reserve bank of India :-
1) Traditional works
2) Development works
3) Other functions
Divided into three vars.
1) Traditional Functions of Reserve bank of India :-
1) Circulation of notes
2) Government Bank
3) Bank of banks
4) Debt control
5) Money market leader
6) Foreign Exchange Custodian
7) Construction lender
8) River house
2) Development / Promotional Works of Reserve bank of India
1) Agricultural Finance
2) Industrial Finance
3) Other functions of Reserve bank of India
1) Research works
2) Special functions
3) Fiscal Policy
4) Control of price inflation
5) General control
6) Bank rate policy
7)Moving reserve requirements
8)Selective credit controls
9) Statutory Liquidity Ratio
10)Cash Reserve Ratio
11)Open market operation
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