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    the central office of the reserve bank of india was initially established in kolkata but was permanently moved to which city in 1937?

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    The Headquarters of Reserve Bank of India is in .

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    Question

    The Headquarters of Reserve Bank of India is in ______.

    A

    Delhi

    B

    Mumbai

    C

    Nasik

    D

    Kanpur

    Medium Open in App Solution Verified by Toppr

    Correct option is B)

    The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The central office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. 

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    Where was the central office of the Reserve Bank of India initially located?

    Where was the central office of the Reserve Bank of India initially located?

    Byju's Answer Standard X Economics

    Reserve Bank of India and Its Functions

    Where was the... Question

    Where was the central office of the Reserve Bank of India initially located?

    A Calcutta B Delhi C Madras D Mumbai Open in App Solution

    The correct option is A Calcutta

    The central office of the Reserve Bank of India was initially located in the city of Calcutta (present-day Kolkata) in West Bengal. However, in 1937, it was permanently shifted to the city of Bombay (present-day Mumbai) in Maharashtra.

    Reserve Bank of India and Its Functions

    Standard X Economics

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    The Reserve Bank of India, the central bank of India, was established on 1st April.

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    स्रोत : byjus.com

    Reserve Bank of India

    Reserve Bank of India

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    "Reserve Bank of India" – news · newspapers · books · scholar · JSTOR

    Reserve Bank of India

    Seal of the Reserve Bank of India

    Logo of the Reserve Bank of India

    Established 1 April 1935; 87 years ago[1]

    Ownership Ministry of Finance, Government of India

    Governor Shaktikanta Das,[2] IAS (Retd.)

    Central bank of  India

    Currency Indian rupee ( ₹ )

    Reserves $532.30 billion[3]

    Bank rate 5.9%[4]

    Interest on reserves 3.35% (market determined)[4]

    Website rbi.org.in

    The Reserve Bank of India, chiefly known as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Nashik (Western India) and Dewas (Central India).[5] RBI established the National Payments Corporation of India as one of its specialised division to regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialised division for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.

    Until the Monetary Policy Committee was established in 2016,[6] it also had full control over monetary policy in the country.[7] It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934.[8] The original share capital was divided into shares of 100 each fully paid.[9] Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949.[10]

    The overall direction of the RBI lies with the 21-member central board of directors, composed of: the governor; four deputy governors; two finance ministry representatives (usually the Economic Affairs Secretary and the Financial Services Secretary); ten government-nominated directors; and four directors who represent local boards for Mumbai, Kolkata, Chennai, and Delhi. Each of these local boards consists of five members who represent regional interests and the interests of co-operative and indigenous banks.

    It is a member bank of the Asian Clearing Union. The bank is also active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion (AFI). The bank is often referred to by the name 'Mint Street'.[11]

    On 12 November 2021, the Prime Minister of India, Narendra Modi, launched two new schemes which aim at expanding investments and ensuring more security for investors. The two new schemes include the RBI Retail Direct Scheme and the Reserve Bank Integrated Ombudsman Scheme.[12] The RBI Retail Direct Scheme is targeted at retail investors to invest easily in government securities. According to RBI, the scheme will allow retail investors to open and maintain their government securities account free of cost. The RBI Integrated Ombudsman Scheme aims to further improve the grievance redress mechanism for resolving customer complaints against entities regulated by the central bank. The RBI makes it mandatory for all the banks in India to have a safe box in their own respect strong room. However, exception is given to the Regional Banks and the SBI branches located in the rural areas but a strong room is compulsory.

    Contents

    1 Preamble 2 History 2.1 1935–1949 2.2 1950–1960 2.3 1961–1968 2.4 1969–1984 2.5 1985–1990 2.6 1991–1999 2.7 2000 - 2009 2.8 Since 2010 3 Structure

    4 Branches and support bodies

    5 Subsidiaries

    5.1 Bharatiya Reserve Bank Note Mudran

    5.2 Deposit Insurance and Credit Guarantee Corporation

    5.3 National Payments Corporation of India

    5.4 Reserve Bank Information Technology

    5.5 Indian Financial Technology and Allied Services

    5.6 Reserve Bank Innovation Hub

    6 Functions[62]

    6.1 Financial supervision

    6.2 Regulator and supervisor of the financial system

    6.3 Regulator and supervisor of the payment and settlement systems

    6.4 Banker and debt manager to government

    6.5 Managing foreign exchange

    6.6 Issue of currency

    6.7 Bankers' bank

    6.8 Regulator of the Banking System

    6.9 Detection of fake currency

    6.10 Developmental role

    6.11 Related functions

    6.12 Custodian to foreign exchange

    6.13 CSD for G-Sec (Government Securities)

    6.14 MIFOR (Mumbai Interbank Forward Offer Rate)

    7 2016 demonetisation

    7.1 Cash crunch and demerits

    7.2 Merits

    8 Policy rates and reserve ratios

    8.1 Repo rate

    8.2 Reverse repo rate (RRR)

    8.3 Statutory liquidity ratio (SLR)

    8.4 Bank rate

    8.5 Liquidity adjustment facility (LAF)

    स्रोत : en.wikipedia.org

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