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In this video we have covered:
*History of Reserve Bank of India
*Functions of Reserve Bank of India
*Preamble of RBI
*Organization Structure of RBI
*Fiscal and Monetary Policy
*Credit Control Measures by 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.
Organisation and Functions
Establishment
Preamble
Central Board
Board for Financial Supervision
Board for Payment and Settlement Systems
Profile of Central Board Directors
Local Boards
Sitting Fees and Halting Allowance of Board Directors/Members
Legal Framework
Main Functions
Departments
Offices
Training Establishments
Subsidiaries
Establishment
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.
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; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth."
Central Board
The Reserve Bank's affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act.
Appointed/nominated for a period of four years
Constitution:
Official Directors
Full-time : Governor and not more than four Deputy Governors
Non-Official Directors
Nominated by Government: ten Directors from various fields and two government Official
Others: four Directors - one each from four local boards
Functions : General superintendence and direction of the Bank's affairs
Names and addresses of the Central Board of Directors of the Reserve Bank of India
1. Dr. Urjit R. Patel
Governor @10. Shri Natarajan Chandrasekaran
2. Shri N. S. Vishwanathan
Deputy Governor @11. Shri Bharat Narotam Doshi
3. Dr. Viral V. Acharya
Deputy Governor @12. Shri Sudhir Mankad
4. Shri B.P. Kanungo
Deputy Governor @13. Dr. Ashok Gulati
5. Shri Mahesh Kumar Jain
Deputy Governor @14. Shri Manish Sabharwal
*6. Dr. Prasanna Kumar Mohanty @15. Shri Satish Kashinath Marathe
*7. Shri Dilip S. Shanghvi @16. Shri Swaminathan Gurumurthy
*8. Ms. Revathy Iyer #17. Shri Subhash Chandra Garg
*9. Prof. Sachin Chaturvedi #18. Shri Rajiv Kumar
Address:
C/o CGM and Secretary
Secretary's Department
Reserve Bank of India
16th floor, Central Office Building
Shahid Bhagat Singh Marg
Mumbai - 400 001
* Directors nominated under Section 8 (1) (b) of the RBI Act, 1934.
@ Directors nominated under Section 8 (1) (c) of the RBI Act, 1934.
Directors nominated under Section 8 (1) (d) of the RBI Act, 1934 (as amended).
Dated: October 25, 2018
Profile of Central Board Directors
Local Boards
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