Tuesday, January 11, 2011

Thursday, January 6, 2011

Preamble, Offices and Branches of RBI

Preamble:


            The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as:


"...to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage."


Offices and branches :


           The Reserve Bank of India has branch offices at most state capitals and at a few major cities in India[total of 18 places] - viz. Ahmedabad, Bangalore, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, Patna, and Thiruvananthapuram. Besides it has sub-offices at Dehradun, Gangtok, Kochi, Panaji, Raipur, Ranchi, Shimla and Srinagar.


            The Bank has also two training colleges for its officers, viz. Reserve Bank Staff College at Chennai and College of Agricultural Banking at Pune. There are also four Zonal Training Centres at Belapur, Chennai, Kolkata and New Delhi.


Address:


Reserve Bank of India,
Central Office,
Shaheed Bhagat Singh Road,
Mumbai - 400001

Website: www.rbi.org.in

Tuesday, January 4, 2011

Reserve Bank of India

            Reserve Bank of India is also known as India's Central Bank. It was established on 1st April 1935. Although the bank was initially owned privately, it has been taken up the Government of India ever since, it was nationalized.


            The central bank was founded in 1935 to respond to economic troubles after the first world war. The Reserve Bank of India was set up on the recommendations of the Hilton Young Commission. The commission submitted its report in the year 1926, though the bank was not set up for another nine years. The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as to regulate the issue of bank notes, to keep reserves with a view to securing monetary stability in India and generally to operate the currency and credit system in the best interests of the country.


           The Central Office of the Reserve Bank was initially established in Kolkata, Bengal, but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated. The Reserve Bank continued to act as the central bank for Myanmar till Japanese occupation of Burma and later up to April 1947, though Burma seceded from the Indian Union in 1937. After partition, the Reserve Bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations. Though originally set up as a shareholders’ bank, the RBI has been fully owned by the government of India since its nationalization in 1949.

Monday, January 3, 2011