• The RBI was established under the Reserve Bank of India Act, 1934 on 1st April 1935.
• It was Nationalized on 1st January 1949. It was the Central Bank of India.
• The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937.
• The Reserve Bank of India is the Central Bank of the Country entrusted with monetary stability, the management of currency and the supervision of the financial as well as the payment system.
• The Reserve Bank is fully owned by the Government of India
• Headquarters (Central Office) in Mumbai.
• The Logo – A Palm tree and a tiger.
• Has 19 regional offices, most of them in state capitals and 9 Sub-offices.
RESERVE BANK OF INDIA (Central Bank of India)-Structures | Directors
* Official Directors – Full-time: Governor and not more than four Deputy Governors.
*Non-Official Directors-Nominated by Government: Ten Directors from various fields and one government Official.
*Others: Four Directors-one each from four local boards.
PRIMARY FUNCTION OF THE RESERVE BANK OF INDIA
1. Monetary Authority of India
2. Issuer of Currency
3. Banker and Debt Manager to the Government
4. Banker to the Banks
5. Regulator of the Banking System
6. Manager of Foreign Exchange
7. Regulator and Supervisor of the payment and settlement system
8. Development Role
