Tuesday, December 13, 2011

Reserve Bank of India - Some Facts

The Reserve Bank of India was established on April 1, 1935. This was 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 RBI was originally privately owned and was nationalised in 1949. Now the Reserve Bank is fully owned by the Government of India.

A few of the 'Directors of the Central Board' of the RBI
Shri Azim Premji
Shri Kumar Mangalam Birla
Ms. Ela Bhatt
Dr. Anil Kakodkar

The RBI has six training establishments
College of Agricultural Banking, Bankers Training College and Reserve Bank of India Staff College are part of the Reserve Bank
National Institute for Bank Management, Indira Gandhi Institute for Development Research (IGIDR), Institute for Development and Research in Banking Technology (IDRBT) are autonomous.

Subsidiaries:
Fully owned: National Housing Bank(NHB), Deposit Insurance and Credit Guarantee Corporation of India(DICGC), Bharatiya Reserve Bank Note Mudran Private Limited(BRBNMPL)
Majority stake: National Bank for Agriculture and Rural Development (NABARD)

The Reserve Bank of India has recently divested its stake in State Bank of India to the Government of India.

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