RESERVE BANK OF INDIAHeadquarters - Mumbai, Maharashtra

Established - 1 April 1935

Governor - Duvvuri subbarao

Currency - Indian rupee

ISO4217 Code - INR

Reserves - US $ 30,210 crore

Base Borrowing Rate - 8.00%

Base Deposit rate - 6.00%

HISTORY1935-1950 – 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 Burma’s 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

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.

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.

1969-1985 – In 1969 , the Indira Gandhi- headed 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 2004-05(National Electronic Fund Transfer). The national economy’s growth rate came down to 5.8% in the last quarter of 2008-09.

STRUCTURE

Central Board Of DirectorsGovernorsSupportive BodiesOffices and Branches

MAIN FUNCTIONSBankers Of IssueMonetary AuthorityRegulator and Supervisor Of Financial

SystemIssuer Of CurrencyBankers Of Bank

DETECTION OF FAKE CURRENCY

Development Role Related Functions

POLICY RATES,RESERVE RATIOLENDING 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%

WHAT’S 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 SOONRecruitment 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