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Reserve Bank of India - One Liner Key Points

Reserve Bank of India - One Liner Key Points

Reserve Bank of India - One Liner Key Points

  • The Central Banking Authority of India is the Reserve Bank of India (RBI). 
  • The different monetary policies regarding the Indian currency is handled by the RBI.
  • It plays important role to develop the policies of Indian Government.
  • Urjit Patel is the present Governor of RBI.
  • RBI does not belong to the Commercial Banks.
  • It is a member of International Monetary Fund (IMF). 
  • It was established as per the RBI (Reserve Bank of India) Act, 1934 on 1st April of 1935. 
  • The Concept of RBI and the guidelines were taken from the book “The Problem of the Rupee – Its origin and its solution” written by Dr. B. R Ambedkar. 


  • As per the recommendation of the “Royal Commission on Indian Currency & Finance” or the Hilton Young Commission, the Reserve Bank of India was first set up in 1926.
  • The bank was nationalized on the 1st January of 1949 after the independence of India. It was a privately owned institution before that.
  • The bank is a member of the Asian Clearing Union.
  • RBI is now owned by the Government of India fully.
  • The bank is a member of the Asian Clearing Union.
  • “A Panther and A Palm Tree” is the emblem of RBI.
  • The logo of the RBI was inspired from Double Mohurs of East India Company.
  • Financial Year of the Reserve Bank of India is from 1st July to 30th June.
  • At first the head quarter of RBI was established in Calcutta. Later it was transferred to Mumbai in the year of 1937.
  • It is controlled by a Board of Directors. The board consists of Governor, 4 Deputy Governors, 2 representatives from the Ministry of Finance, 4 Directors of the 4 Zonal offices as the representative and 10 Directors who are nominated by the Government to represent the important elements from the economy of India.
  • Governor is the Executive Head of RBI.
  • The Directors are appointed following the Reserve Bank of India Act for a time period of 4 years by the Government of India.
  • There are four Zonal offices of RBI i.e. Mumbai for West, Kolkata for East, New Delhi for North and Chennai for South.
  • The number of regional offices of RBI is 19 and Sub Offices is 11.
  • There two training colleges for the officers of RBI. Those are College of Agricultural Banking of Pune and Reserve Bank Staff College of Chennai.
  • Sir Osborne Smith was the first Governor of RBI. He served from 1935 to 1937.
  • C D Deshmukh, who is the third Governor of RBI, was the first Indian Governor of the Bank. He served from 1943 to 1949.
  • Dr. Manmohan Singh is the only Prime Minister of India who was the Governor of RBI from 1982 to 1985.
  • K J Udeshi is the first woman Deputy Director of RBI.
  • RBI prints the currency notes while the minting of coins and 1 Re note printing are done by Government of India.
  • The Credit and currency system of India were regulated by the RBI.
  • Only RBI hold the responsibility to issue currency notes of Rs. 2, 5, 10, 20, 50, 100, 1000, 5000 and 10,000.
  • RBI demonetized the currency notes of Rs. 500, Rs. 1000, Rs. 5000 and Rs. 10000.
  • It provides license to the new banks.
  • The regulation, control and inspection of the RBI were done by the RBI.
  • It takes part to make the development strategy for India.
  • It can issue the currency notes as per the need of the country.
  • India has the security deposit of Rs. 200 Crore (115 Crores are gold and 85 Crores are Forex Reserves).
  • RBI runs the Monetary Museum in Mumbai Head Quarter premises.
  • The Reserve Bank of India was also the Central Bank of two other countries i.e. Pakistan (till June of 1948) and Myanmar (till April 1947).
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