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Reserve Bank of India (RBI) Revision Notes

Reserve Bank of India (RBI) - Revision Notes for Competitive Exams ( UPSC, MPSC, SSC, Banking Exams)

What is it?

Central Bank of India

When it established?

April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934

Preamble of Reserve Bank of India?

“…to regulate the issue of Bank Notes and keeping of reserves to secure monetary stability in India and generally to operate the currency and credit system of the country to its advantage.”

Owner?

Fully owned by Ministry of Finance, Government of India since 1949

Major functions – ( Total 7 important functions )

1. Issue of Bank Notes
2. Banker to Government
3. Custodian of Cash Reserves of Commercial Banks
4. Custodian of Country’s Foreign Currency Reserves
5. Lender of Last Resort
6. Central Clearance and Accounts Settlement
7. Controller of Credit

Zonal Offices?

Four Offices

1. New Delhi (North Zone)
2. Chennai (South zone)
3. Kolkata (East Zone)
4. Mumbai (West Zone)

Regional Offices – Total Number

Nineteen (19)

Sub-Offices – Total Number

Eleven (11)

Training Colleges Total Number

Two (2)

Subsidiaries

1. Bharatiya Reserve Bank Note Mudran
2. Deposit Insurance and Credit Guarantee Corporation
3. National Payments Corporation of India
4. Reserve Bank Information Technology
5. Indian Financial Technology and Allied Services