Reserve Bank of India (RBI) – Important Points.

*.Name of Central Bank of India: Reserve Bank of India (RBI)RBI
*.No of Central Bank in India: One (1)
*.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 19 regional offices, most of them in state capitals and 9 Sub-offices
*.The Executive head of RBI is known as Governor.
*.The governor is associated by Four Deputy Governors.
*.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)

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