RBI Functions
Banking · RBI के कार्य · 22 facts
RBI established under RBI Act 1934; started functioning 1 April 1935
RBI nationalized on 1 January 1949; HQ in Mumbai
Section 22 of RBI Act: sole authority to issue currency notes in India
Re 1 note issued by Ministry of Finance (signed by Finance Secretary), NOT RBI
RBI Governor signs all notes except Re 1; current Governor signs above Rs 2
RBI is Banker to Central and State Governments — manages their accounts
RBI is Banker to Banks — maintains CRR deposits of commercial banks
RBI is Lender of Last Resort — provides emergency credit to banks
RBI regulates money supply through Monetary Policy (CRR, SLR, Repo etc.)
RBI manages India foreign exchange reserves (FOREX)
RBI issues and manages government securities (G-Secs) and public debt
RBI supervises and regulates all commercial banks, NBFCs, and cooperative banks
RBI grants banking licenses under Section 22 of Banking Regulation Act
RBI uses Minimum Reserve System for note issue (Rs 200 cr gold + forex)
RBI conducts Open Market Operations (OMO) to control liquidity
RBI publishes Financial Stability Report, Annual Report, and monetary data
RBI has 4 regional offices: Mumbai, Delhi, Kolkata, Chennai
RBI Board has Governor, 4 Deputy Governors, and government-nominated directors
Hilton Young Commission (1926) recommended establishment of RBI
RBI was originally located in Kolkata, moved to Mumbai in 1937
Banking Ombudsman scheme by RBI handles customer complaints against banks
RBI maintains the Credit Information Bureau to track borrower history