### RBI Facts ### Name of Central Bank of India: Reserve Bank of India (RBI) Reserve Bank of India Act passed in 1934. Reserve Bank of India (RBI) established on 1 April 1935. Reserve Bank of India (RBI) established on the recommendation of Hilton-Young Commission. Hilton-Young Commission submitted its report in the year 1926. Initially RBI was constructed as a Private Share holders’ bank with fully paid-up capital of Rs 5 Crores. RBI was nationalize in the year of 1st January,1949. RBI is a statutory body. RBI is the sole authority in India to issue Bank notes in India. RBI can issue currency notes as much as the country requires, provided it has to make a security deposit of Rs. 200 crores, out of which Rs. 115 crores must be in gold and Rs. 85 crores must be FOREX Reserves. Emblem of RBI: Panther and Palm Tree. Initially the headquarter of RBI was in Calcutta (Now Kolkata) but in 1937 it was permanently moved to Mumbai, Maharastra. The Reserve Bank of India has 4 Zonal offices,22 regional offices, most of them in state capitals and 9 Sub-offices The Executive head of RBI is known as Governor. RBI is controlled by the Central Board of Directors. Indian government appoints the directors for four years tenure. The central board of directors comprises Governor, four deputy governor and fifteen directors. The bank has also two training colleges for its officers, viz. Reserve Bank Staff College at Chennai and College of Agricultural Banking at Pune. RBI is a member bank of the Asian Clearing Union. Chintaman Dwarkanath Deshmukh (C D Deshmukh) was the governor of RBI at the Time of nationalization of RBI in 1949. C D Deshmukh, then Governor of RBI, represented India at the Bretton Woods negotiations in 1944. 1st women Deputy Governor of RBI -K.J.Udeshi. RBI is not a Commercial Bank. RBI prints currency in 15 Languages. RBI is a member of IMF (International Monetary Fund). Its financial year is from 1 July to 30 June. The emblem of RBI is a tiger and a Palm tree. The first governor of RBI was Sir Osborne Smith (1935-1937). The first Indian governor was CD Deshmukh (1943-1949). Manmohan Singh is the only Prime Minister who also was a Governor of RBI. Current Governor is Raghuram Rajan ### vamsi krishna
Posted on: Sat, 02 Nov 2013 10:49:16 +0000
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