RESERVE BANK OF INDIA

Headquarters - Mumbai, Maharashtra

Established Governor Currency - 1 April 1935 - Duvvuri subbarao - Indian rupee

ISO4217 Code - INR

Reserves

- US $ 30,210 crore - 6.00%

Base Borrowing Rate - 8.00%

Base Deposit rate

HISTORY
1935-1950 The Reserve Bank Of India was
founded on 1st April 1935 to respond to economic troubles after the first world war. The Central Office Of the RBI was initially established in Calcutta (now Kolkata), but was permanently moved to Bombay (now Mumbai) in 1937. The RBI also acted as Burmas Central Bank until April 1947. After the Partition of India in 1947 , the Bank served as the Central Bank for Pakistan until June 1948. the RBI has been fully owned by the Government of India since its nationalization in 1949

1950-1960 In the 1950s, the Indian

Government under its Prime Minister Jawaharlal Nehru , developed a centrally planned economic policy that focused on the agricultural sector. The Central Bank was ordered to support the economic plan with loans.

1960-1969 On 7th December 1961 , RBI

initialized a monitor which deposit insurance system . The RBI Had to pay the Central part of control and support of his public banking sector.

1969-1985 In 1969 , the Indira Gandhiheaded government nationalized 14 major commercial banks. In 1980, further six banks were nationalized. The Financial sector was reinforced by the government of India in 1970s and 1980s. The Oil Crises in 1973 resulted in increasing inflation.

1985-1991 A lots of committees analysed

the Indian economy between 1985 and 1991. The Discount and Finance House of India began its operations on the monetary market in April 1988, the National Housing Bank founded in July 1988, was forced to invest in the property market

1991-2000 New guidelines were published in

1993 to establish a private banking sector. The National Stock Exchange of India took the trade on in June 1994 . The Central bank founded a subsidiary company the Bharatiya reserve bank Note Mud ran Limited- in February 1955 to produce banknotes.

Since 2000 The Foreign Exchange

Management Act from 1999 came into force in June 2000. RBI allowed Online Banking in 2001 and established a new payment system in 200405(National Electronic Fund Transfer). The national economys growth rate came down to 5.8% in the last quarter of 2008-09.

STRUCTURE
Central Board Of Directors Governors Supportive Bodies Offices and Branches

MAIN FUNCTIONS
Bankers Of Issue Monetary Authority Regulator and Supervisor Of Financial System Issuer Of Currency Bankers Of Bank

DETECTION OF FAKE CURRENCY

Development Role Related Functions

POLICY RATES,RESERVE RATIO LENDING AND DEPOSITES RATES AS OF 17TH SEPTEMBER 2012
Bank Rate - 9.00% Repo Rate - 8.00% Reverse Repo Rate 7.00% Cash Reserve Ratio 4.25% Statutory Liquidity Ratio 23.0% Base Rate - 9.75%-10.50% Reserve Bank Rate 4% Deposit Rate 8.50%-9.25%

WHATS NEW
Second quarter Review Of Monetary Policy 2012-13 Press Statement by Dr. D. Subbarao, Governor, RBI Marksheet For the Recruitment for the Post Of Officers in grade B(General)- for which Phase II written was held on April 28 and 29 2012

COMING SOON
Recruitment for the post of Manager in Gr. B Technical (civil) and Manager in Gr. B Electrical . List of candidates admitted for written examination was to be held on November 11, 2012