rbi
DESCRIPTION
TRANSCRIPT
Presented by Nijil c v
Introduction
It is the apex bank of India.Started functioning from 1st April 1935.RBI plays an important part in the development strategy of the government.Its headquarter is in Mumbai.It has 22 branch offices at most state capitals and at a few major cities in IndiaPresent governor – Duvvuri subbarao.
History
It was set up on the recommendations of the Hilton Young Commission
It was started as share-holders bank with a paid up capital of 5 cores.
Initially it was privately owned till Jan 1949 after which it became state-owed institution under RBI act
Initially it was located in Kolkata. It moved to Mumbai in 1937.
RBI Offices Head office in Mumbai.
24 Regional offices, most
of them in State Capital.
Reserve Bank of India,
Central Office,
Shaheed Bhagat Singh Road,
Mumbai – 400 001
Ph.No. 22660868,
Web : www.rbi.org.in
Main functions of RBI
Monetary Authority It formulates, implements and monitors the monetary policy.
to ensure an adequate flow of credit to productive sectors
Issuer of Currencyissues and exchanges or destroys currencies.the goal of ensuring an adequate supply of clean and genuine notes.
Managing the government’s banking transactionsmaintains its accounts, receives money into and makes payments out of these accounts.
Debt manager of government
Banker to BanksTransfer funds and settle inter-bank transactions.All banks operating in the country have accounts with the Reserve Bank.
Controller of credit
It holds of cash reserve of all the scheduled bankIt control the banking system through lisencing,insepction calling for informationIt control the credit operation of banks through quantitative and qualitative controls Every bank gives weekly return showing assets and liabilities in details
Manager of Foreign Exchange
plays a key role in the regulation and development of the foreign exchange market Main 3 functionRegulating transactions related to the external sector .
Ensuring smooth conduct
Managing the foreign currency assets and gold
reserves of the country
Developmental Role
To develop the quality of banking system in India. Performs a wide range of promotional functions to support national objectives. To establish financial institutions of national importanceUnit Trust of India (1964)
Contd..Industrial Development Bank of India (1964)
NABARD (1982)
National Housing Bank(1989)
ANY DOUBT?