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| image = [[File:Seal of the Reserve Bank of India.svg|160px]]<br />Seal of the Reserve Bank of India<br /><br />[[File:Reserve Bank of India logo.svg|300px]]<br />Logo of the Reserve Bank of India
| image = [[File:Seal of the Reserve Bank of India.svg|160px]]<br />Seal of the Reserve Bank of India<br /><br />[[File:Reserve Bank of India logo.svg|300px]]<br />Logo of the Reserve Bank of India
| established = {{Start date and age|df=yes|1935|4|1}}<ref>{{cite web| url=https://www.rbi.org.in/Scripts/AboutusDisplay.aspx| title=Reserve Bank of India – About Us| access-date=25 February 2021| archive-date=2 March 2021| archive-url=https://web.archive.org/web/20210302112950/https://rbi.org.in/Scripts/AboutusDisplay.aspx| url-status=live}}</ref>
| established = {{Start date and age|df=yes|1935|4|1}}<ref>{{cite web| url=https://www.rbi.org.in/Scripts/AboutusDisplay.aspx| title=Reserve Bank of India – About Us| access-date=25 February 2021| archive-date=2 March 2021| archive-url=https://web.archive.org/web/20210302112950/https://rbi.org.in/Scripts/AboutusDisplay.aspx| url-status=live}}</ref>
| president = [[Shaktikanta Das]],<ref name=shaktikanta>{{cite news|title=Shaktikanta Das is new Guv of RBI|url=http://www.uniindia.com/~/shaktikanta-das-is-new-guv-of-rbi/Business%20Economy/news/1434353.html|access-date=11 December 2018|work=United News of India|date=11 December 2018|archive-date=15 December 2018|archive-url=https://web.archive.org/web/20181215022345/http://www.uniindia.com/~/shaktikanta-das-is-new-guv-of-rbi/Business%20Economy/news/1434353.html|url-status=live}}</ref> [[Indian Administrative Service|IAS (Retd.)]]
| president = [[Shaktikanta Das]],<ref name=shaktikanta>{{cite news|title=Shaktikanta Das is new Governor of RBI|url=http://www.uniindia.com/~/shaktikanta-das-is-new-guv-of-rbi/Business%20Economy/news/1434353.html|access-date=11 December 2018|work=United News of India|date=11 December 2018|archive-date=15 December 2018|archive-url=https://web.archive.org/web/20181215022345/http://www.uniindia.com/~/shaktikanta-das-is-new-guv-of-rbi/Business%20Economy/news/1434353.html|url-status=live}}</ref> [[Indian Administrative Service|IAS (Retd.)]]
| leader_title = [[Governor of Reserve Bank of India|Governor]]
| leader_title = [[Governor of Reserve Bank of India|Governor]]
| bank_of = {{Flag|India}}
| bank_of = {{Flag|India}}
| currency = [[Indian rupee]] ([[₹]])
| currency = [[Indian rupee]] ([[₹]])
| reserves = [[United States dollar|$]]566.94 [[billion]]<ref>{{cite web|url=https://rbidocs.rbi.org.in/rdocs/Wss/PDFs/2T_170220231FD4B1D51FC84021B0034D3A5D9F440F.PDF |date=17 Feb 2023 |work=[[RBI own]] |access-date=2023-02-21}}</ref>
| reserves = {{increase}} $595.067&nbsp;billion{{efn|Indian reports are released on a weekly basis rather than the traditional monthly basis with the figures being of the previous week, by [[Reserve Bank of India]].}}<ref>{{Cite web|url=https://m.rbi.org.in//scripts/WSSViewDetail.aspx?PARAM1=2&TYPE=Section|title=Reserve Bank of India – Weekly Statistical Supplement|publisher=Reserve Bank of India|access-date=2023-06-03}}</ref><br>(as of 02 June 2023)
| borrowing_rate = 6.75%<ref name="auto">{{cite web |title=Reserve Bank of India |url=https://rbi.org.in/ |website=rbi.org.in |access-date=9 April 2022}}</ref>
| borrowing_rate = 6.75%<ref name="auto">{{cite web |title=Reserve Bank of India |url=https://rbi.org.in/ |website=rbi.org.in |access-date=9 April 2022}}</ref>
| deposit_rate = 3.35% {{small|(market determined)}}<ref name="auto"/>
| deposit_rate = 3.35% {{small|(market determined)}}<ref name="auto"/>
| website = {{URL|https://rbi.org.in}}
| website = {{URL|https://rbi.org.in}}
| native_name = भारतीय रिज़र्व बैंक (in Hindi)
| native_name = भारतीय रिज़र्व बैंक
| headquarters = Fort, Bombay, Maharashtra, India
| headquarters = [[Mumbai]], [[Maharashtra]], India
| coordinates = {{coord|18.933025635922377|N|72.8369340845961|E}}
| coordinates = {{coord|18.932808|N|72.837017|E}}
| currency_iso = INR
| currency_iso = INR
| ownership = [[Ministry of Finance (India)|Ministry of Finance]], [[Government of India]]
| ownership = [[Ministry of Finance (India)|Ministry of Finance]], [[Government of India]]
}}
}}


The '''Reserve Bank of India''', chiefly known as '''RBI''', is India's [[central bank]] and [[regulatory body]] responsible for [[Bank regulation|regulation]] of the [[Banking in India|Indian banking system]]. It is under the [[ownership]] of [[Ministry of Finance (India)|Ministry of Finance]], [[Government of India]]. It is responsible for the [[Money supply|control, issue and maintaining supply]] of the [[Indian rupee]]. It also manages [[Payment and settlement systems in India|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 rupee|Indian currency notes (INR)]] in four of its currency printing presses located in [[Nashik]] ([[Maharashtra]]; Western India), [[Dewas]] ([[Madhya Pradesh]]; Central India), [[Mysore]] ([[Karnataka]]; Southern India) and [[Salboni]] ([[West Bengal]]; Eastern India).<ref>{{Cite web |title=Reserve Bank of India – About Us |url=https://www.rbi.org.in/scripts/AboutUsDisplay.aspxpg=DeptOfCM.htm#:~:text=Two%20of%20the%20currency%20note,and%20Dewas%20(Central%20India). |access-date=2022-08-02 |website=www.rbi.org.in}}</ref>. The 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|credit facilities]] to all Indian banks.
The '''Reserve Bank of India''', chiefly known as '''RBI''', is India's [[central bank]] and [[regulatory body]] responsible for [[Bank regulation|regulation]] of the [[Banking in India|Indian banking system]]. It is under the [[ownership]] of [[Ministry of Finance (India)|Ministry of Finance]], [[Government of India]]. It is responsible for the [[Money supply|control, issue and maintaining supply]] of the [[Indian rupee]]. It also manages [[Payment and settlement systems in India|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 rupee|Indian currency notes (INR)]] in four of its currency printing presses located in [[Nashik]] ([[Maharashtra]]; Western India), [[Dewas]] ([[Madhya Pradesh]]; Central India), [[Mysore]] ([[Karnataka]]; Southern India) and [[Salboni]] ([[West Bengal]]; Eastern India).<ref>{{Cite web |title=Reserve Bank of India – About Us |url=https://www.rbi.org.in/scripts/AboutUsDisplay.aspxpg=DeptOfCM.htm#:~:text=Two%20of%20the%20currency%20note,and%20Dewas%20(Central%20India). |access-date=2022-08-02 |website=www.rbi.org.in}}</ref> The 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|credit facilities]] to all Indian banks.


Until the [[Monetary Policy Committee of India|Monetary Policy Committee]] was established in 2016,<ref>{{cite web|url=https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about-monetary-policy-committee/article8807786.ece|title=All you wanted to know about Monetary Policy Committee|work=@businessline|date=4 July 2016 |access-date=13 July 2019|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806190826/https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about-monetary-policy-committee/article8807786.ece|url-status=live}}</ref> it also had full control over [[monetary policy]] in the country.<ref name="mpc">{{cite news |last1=Krishnan |first1=Aarati |title=All you wanted to know about Monetary Policy Committee |url=https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about-monetary-policy-committee/article8807786.ece |access-date=12 December 2018 |work=Business Line |date=4 July 2016 |archive-date=6 August 2020 |archive-url=https://web.archive.org/web/20200806190826/https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about-monetary-policy-committee/article8807786.ece |url-status=live }}</ref> It commenced its operations on 1 April 1935 in accordance with the [[Reserve Bank of India Act, 1934]].<ref>{{cite web | url=http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBIA1934170510.pdf | title=Reserve Bank of India Act, 1934 | access-date=6 August 2012 | page=115 | archive-date=12 September 2012 | archive-url=https://web.archive.org/web/20120912070445/http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBIA1934170510.pdf | url-status=live }}</ref> The original share capital was divided into shares of 100 each fully paid.<ref name="RBIA1934-2009">{{cite web|url=http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBIAM_230609.pdf|title=RESERVE BANK OF INDIA ACT, 1934 (As modified up to 27 February 2009)|publisher=Reserve Bank of India (RBI)|access-date=20 November 2010|archive-date=21 July 2011|archive-url=https://web.archive.org/web/20110721181422/http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBIAM_230609.pdf|url-status=live}}</ref> Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949.<ref>{{cite web|url=https://www.rbi.org.in/history/Brief_RBI_Nationalisation.html|title=RBI History - Brief History - RBI Nationalisation|website=www.rbi.org.in|access-date=11 September 2020|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806205546/https://www.rbi.org.in/history/Brief_RBI_Nationalisation.html|url-status=live}}</ref>
Until the [[Monetary Policy Committee of India|Monetary Policy Committee]] was established in 2016,<ref>{{cite web|url=https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about-monetary-policy-committee/article8807786.ece|title=All you wanted to know about Monetary Policy Committee|work=@businessline|date=4 July 2016 |access-date=13 July 2019|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806190826/https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about-monetary-policy-committee/article8807786.ece|url-status=live}}</ref> it also had full control over [[monetary policy]] in the country.<ref name="mpc">{{cite news |last1=Krishnan |first1=Aarati |title=All you wanted to know about Monetary Policy Committee |url=https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about-monetary-policy-committee/article8807786.ece |access-date=12 December 2018 |work=Business Line |date=4 July 2016 |archive-date=6 August 2020 |archive-url=https://web.archive.org/web/20200806190826/https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about-monetary-policy-committee/article8807786.ece |url-status=live }}</ref> It commenced its operations on 1 April 1935 in accordance with the [[Reserve Bank of India Act, 1934]].<ref>{{cite web | url=http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBIA1934170510.pdf | title=Reserve Bank of India Act, 1934 | access-date=6 August 2012 | page=115 | archive-date=12 September 2012 | archive-url=https://web.archive.org/web/20120912070445/http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBIA1934170510.pdf | url-status=live }}</ref> The original share capital was divided into shares of 100 each fully paid.<ref name="RBIA1934-2009">{{cite web|url=http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBIAM_230609.pdf|title=RESERVE BANK OF INDIA ACT, 1934 (As modified up to 27 February 2009)|publisher=Reserve Bank of India (RBI)|access-date=20 November 2010|archive-date=21 July 2011|archive-url=https://web.archive.org/web/20110721181422/http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBIAM_230609.pdf|url-status=live}}</ref> Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949.<ref>{{cite web|url=https://www.rbi.org.in/history/Brief_RBI_Nationalisation.html|title=RBI History - Brief History - RBI Nationalisation|website=www.rbi.org.in|access-date=11 September 2020|archive-date=6 August 2020|archive-url=https://web.archive.org/web/20200806205546/https://www.rbi.org.in/history/Brief_RBI_Nationalisation.html|url-status=live}}</ref>
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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'.<ref>{{Cite journal|last=Srinivas|first=Yanamandra|date=1 December 2014|title=Minsky, Monetary Policy and Mint Street: Challenges for the Art of Monetary Policymaking in Emerging Economies|ssrn=2532526|journal=Levy Economics Institute Working Paper Collection|url=http://www.levyinstitute.org/pubs/wp_820.pdf|access-date=26 December 2018|archive-date=22 September 2017|archive-url=https://web.archive.org/web/20170922213410/http://www.levyinstitute.org/pubs/wp_820.pdf|url-status=live}}</ref>
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'.<ref>{{Cite journal|last=Srinivas|first=Yanamandra|date=1 December 2014|title=Minsky, Monetary Policy and Mint Street: Challenges for the Art of Monetary Policymaking in Emerging Economies|ssrn=2532526|journal=Levy Economics Institute Working Paper Collection|url=http://www.levyinstitute.org/pubs/wp_820.pdf|access-date=26 December 2018|archive-date=22 September 2017|archive-url=https://web.archive.org/web/20170922213410/http://www.levyinstitute.org/pubs/wp_820.pdf|url-status=live}}</ref>
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.<ref>{{cite web|date=November 12, 2021 |title=PM Modi launches 2 RBI schemes: All you need to know|url=https://www.indiatoday.in/business/story/pm-modi-launches-2-rbi-schemes-check-key-details-1875916-2021-11-12|access-date=12 November 2021|website=India Today|language=en|archive-date=12 November 2021|archive-url=https://web.archive.org/web/20211112070850/https://www.indiatoday.in/business/story/pm-modi-launches-2-rbi-schemes-check-key-details-1875916-2021-11-12|url-status=live}}</ref> 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.


== Preamble ==
== Preamble ==
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=== 1935–1949 ===
=== 1935–1949 ===
[[File:IND-19a-Reserve Bank of India-10 Rupees (1937).jpg|thumb|Reserve Bank of India-10 Rupees (1938), the first year of banknote issue.]]
[[File:IND-19a-Reserve Bank of India-10 Rupees (1937).jpg|thumb|Reserve Bank of India-10 Rupees (1938), the first year of banknote issue.]]
The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the [[First World War]].<ref>{{cite journal|author=[[Cecil Kisch]] |title=Review 'The Monetary Policy of Reserve Bank of India' by Rohit|journal=[[The Economic Journal]]|volume= 59|issue=235 |year=1949|pages=436–438|doi=10.2307/2226888|jstor=2226888}}</ref> The bank was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance, also known as the [[Hilton Young Commission]] using recommendations and guidelines received from Dr. B R Ambedkar based on his book, 'The Problem Of The Rupee: Its Origin And Its Solution'.<!-- This claim, regarding the book, is not satisfied by the reference--><ref name=PDF>{{Cite web |url=http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBI290410BC.pdf |title= Reserve Bank of India: Platinum Jubilee (PDF) |archive-url=https://web.archive.org/web/20120510122917/http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBI290410BC.pdf |date=10 May 2012 |url-status=live |archive-date=10 May 2012}}</ref> Eventually, the Central Legislative Assembly passed these guidelines as the RBI Act 1934. The original choice for the seal of RBI was the East India Company [[Mohur|Double Mohur]], with the sketch of the Lion and Palm Tree. However, it was decided to replace the lion with the tiger, the national animal of India.  The Preamble of the RBI describes its basic functions to regulate the issue of banknotes, keep reserves to secure 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 RBI was established in Calcutta (now Kolkata) but was moved to Bombay (now Mumbai) in 1937. The RBI also acted as Burma's (now Myanmar) central bank until April 1947 (except during the years of Japanese occupation (1942–45)), even though Burma seceded from the Indian Union in 1937. After the [[Partition of India]] in August 1947, the bank served as the central bank for [[Pakistan]] until June 1948 when the [[State Bank of Pakistan]] commenced operations. Though set up as a shareholders' bank, the RBI has been fully owned by the [[Government of India]] since its nationalisation in 1949.<ref>{{cite web |url=http://www.rbi.org.in/scripts/briefhistory.aspx |title=History |publisher=RBI |date=1 April 1935 |access-date=20 August 2010 |archive-date=31 August 2010 |archive-url=https://web.archive.org/web/20100831013657/http://www.rbi.org.in/scripts/briefhistory.aspx |url-status=live }}</ref> RBI has a monopoly of note issue.
The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the [[First World War]].<ref>{{cite journal|author=[[Cecil Kisch]] |title=Review 'The Monetary Policy of Reserve Bank of India' by Rohit|journal=[[The Economic Journal]]|volume= 59|issue=235 |year=1949|pages=436–438|doi=10.2307/2226888|jstor=2226888}}</ref> The bank was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance, also known as the [[Hilton Young Commission]].<ref name=PDF>{{Cite web |url=http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBI290410BC.pdf |title= Reserve Bank of India: Platinum Jubilee (PDF) |archive-url=https://web.archive.org/web/20120510122917/http://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RBI290410BC.pdf |date=10 May 2012 |url-status=live |archive-date=10 May 2012}}</ref> Eventually, the Central Legislative Assembly passed these guidelines as the RBI Act 1934. The original choice for the seal of RBI was the East India Company [[Mohur|Double Mohur]], with the sketch of the Lion and Palm Tree. However, it was decided to replace the lion with the tiger, the national animal of India.  The Preamble of the RBI describes its basic functions to regulate the issue of banknotes, keep reserves to secure 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 RBI was established in Calcutta (now Kolkata) but was moved to Bombay (now Mumbai) in 1937. The RBI also acted as Burma's (now Myanmar) central bank until April 1947 (except during the years of Japanese occupation (1942–45)), even though Burma seceded from the Indian Union in 1937. After the [[Partition of India]] in August 1947, the bank served as the central bank for [[Pakistan]] until June 1948 when the [[State Bank of Pakistan]] commenced operations. Though set up as a shareholders' bank, the RBI has been fully owned by the [[Government of India]] since its nationalisation in 1949.<ref>{{cite web |url=http://www.rbi.org.in/scripts/briefhistory.aspx |title=History |publisher=RBI |date=1 April 1935 |access-date=20 August 2010 |archive-date=31 August 2010 |archive-url=https://web.archive.org/web/20100831013657/http://www.rbi.org.in/scripts/briefhistory.aspx |url-status=live }}</ref> RBI has a monopoly of note issue.


=== 1950–1960 ===
=== 1950–1960 ===
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=== 1961–1968 ===
=== 1961–1968 ===
As a result of bank crashes, the RBI was requested to establish and monitor a deposit insurance system. Meant to restore the trust in the national bank system, it was initialised on 7 December 1961. The Indian government founded funds to promote the economy and used the slogan "Developing Banking". The government of India restructured the national bank market and nationalised a lot of institutes. As a result, the RBI had to play the central part in controlling and supporting this public banking sector.
As a result of bank crashes, the RBI was requested to establish and monitor a deposit insurance system. Meant to restore the trust in the national bank system, it was initialized on 7 December 1961. The Indian government founded the funds to promote the economy and used the slogan "Developing Banking". The government of India restructured the national bank market and nationalized a lot of institutes. As a result, the RBI had to play the central part in controlling and supporting this public banking sector.


=== 1969–1984 ===
=== 1969–1984 ===
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|T Rabi Shankar
|T Rabi Shankar
|-
|-
|[[Mahesh Kumar Jain]]
|Swaminathan J
|-
|-
|[[Michael Patra]]
|[[Michael Patra]]
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|Deputy Governors
|Deputy Governors
|4
|4
|T Rabi Shankar, MK Jain, MD Patra and MR Rao.
|T Rabi Shankar, Swaminathan J, MD Patra and MR Rao.
|-
|-
|4
|4
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|-
|-
|5
|5
|Principle Chief General Managers
|Principal Chief General Managers
|Multiple
|Multiple
|
|
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RBI has 31 branches in India. Mostly all are in Capital cities, exceptions are the [[Nagpur]] Reserve Bank branch which is actually a Second capital of Maharashtra and the [[Ahmedabad]] Reserve Bank branch. Nagpur Reserve Bank was established in 1956, while the Ahmedabad branch was established in 1950.
RBI has 31 branches in India. Mostly all are in Capital cities, exceptions are the [[Nagpur]] Reserve Bank branch which is actually a Second capital of Maharashtra and the [[Ahmedabad]] Reserve Bank branch. Nagpur Reserve Bank was established in 1956, while the Ahmedabad branch was established in 1950.


It has two training colleges for its officers, viz. Reserve Bank Staff College, [[Chennai]] and Reserve Bank of India College of Agricultural Banking, [[Pune]]. There are three autonomous institutions run by RBI namely [[National Institute of Bank Management]] (NIBM), [[Indira Gandhi Institute of Development Research]] (IGIDR), [[Institute for Development and Research in Banking Technology]] (IDRBT).<ref>{{cite web|url=https://www.rbi.org.in/Scripts/OtherLinks.aspx|title=Reserve Bank of India - Related Links|website=www.rbi.org.in|access-date=10 May 2015|archive-date=18 May 2015|archive-url=https://web.archive.org/web/20150518101441/https://www.rbi.org.in/Scripts/OtherLinks.aspx|url-status=live}}</ref> There are also four zonal training centres at Mumbai, Chennai, Kolkata, and New Delhi.
It has 3 training colleges for its officers, viz. Reserve Bank Staff College [[Chennai]], Reserve Bank of India Academy [[Mumbai]], and Reserve Bank of India College of Agricultural Banking [[Pune]]. There are three autonomous institutions run by RBI namely [[National Institute of Bank Management]] (NIBM), [[Indira Gandhi Institute of Development Research]] (IGIDR), [[Institute for Development and Research in Banking Technology]] (IDRBT).<ref>{{cite web|url=https://www.rbi.org.in/Scripts/OtherLinks.aspx|title=Reserve Bank of India - Related Links|website=www.rbi.org.in|access-date=10 May 2015|archive-date=18 May 2015|archive-url=https://web.archive.org/web/20150518101441/https://www.rbi.org.in/Scripts/OtherLinks.aspx|url-status=live}}</ref> There are also four zonal training centres at Mumbai, Chennai, Kolkata, and New Delhi.


The Board of Financial Supervision (BFS), formed in November 1994, serves as a CCBD committee to control the financial institutions. It has four members, appointed for two years, and takes measures to strength the role of statutory auditors in the financial sector, external monitoring, and internal controlling systems. The [[Committee on Capital Account Convertibility|Tarapore committee]] was set up by the Reserve Bank of India under the chairmanship of former RBI deputy governor S. S. Tarapore to "lay the road map" to [[capital account convertibility]]. The five-member committee recommended a three-year time frame for complete convertibility by 1999–2000.
The Board of Financial Supervision (BFS), formed in November 1994, serves as a CCBD committee to control the financial institutions. It has four members, appointed for two years, and takes measures to strength the role of statutory auditors in the financial sector, external monitoring, and internal controlling systems. The [[Committee on Capital Account Convertibility|Tarapore committee]] was set up by the Reserve Bank of India under the chairmanship of former RBI deputy governor S. S. Tarapore to "lay the road map" to [[capital account convertibility]]. The five-member committee recommended a three-year time frame for complete convertibility by 1999–2000.
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== Functions<ref>{{Cite web |date=2020-08-07 |title=RBI Functions and Working |url=https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RWF15012018_FCD40172EE58946BAA647A765DC942BD5.PDF |access-date=2022-08-02 |website=Reserve Bank of India}}</ref> ==
== Functions<ref>{{Cite web |date=2020-08-07 |title=RBI Functions and Working |url=https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/RWF15012018_FCD40172EE58946BAA647A765DC942BD5.PDF |access-date=2022-08-02 |website=Reserve Bank of India}}</ref> ==


{{see also|Reserve Bank of India}}
[[File:Reserve bank of India Headquarters.jpg|thumb|Reserve Bank of India regional office, Delhi entrance with the [[Yakshini]] sculpture depicting "Prosperity through agriculture".<ref>{{cite web|url=http://www.rbi.org.in/Commonman/English/History/Scripts/anecdote3.aspx|title=History of Reserve Bank|access-date=24 February 2009|archive-date=20 July 2009|archive-url=https://web.archive.org/web/20090720075950/http://www.rbi.org.in/Commonman/English/History/Scripts/anecdote3.aspx|url-status=live}}</ref>]]
[[File:Reserve bank of India Headquarters.jpg|thumb|Reserve Bank of India regional office, Delhi entrance with the [[Yakshini]] sculpture depicting "Prosperity through agriculture".<ref>{{cite web|url=http://www.rbi.org.in/Commonman/English/History/Scripts/anecdote3.aspx|title=History of Reserve Bank|access-date=24 February 2009|archive-date=20 July 2009|archive-url=https://web.archive.org/web/20090720075950/http://www.rbi.org.in/Commonman/English/History/Scripts/anecdote3.aspx|url-status=live}}</ref>]]
[[File:General Post Office and Reserve Bank of India, Kolkata, India.jpg|thumb|The regional office of RBI (right) in front of [[General Post Office, Kolkata|GPO]] (left) at [[B. B. D. Bagh|Dalhousie Square]], [[Kolkata]].]]
[[File:General Post Office and Reserve Bank of India, Kolkata, India.jpg|thumb|The regional office of RBI (right) in front of [[General Post Office, Kolkata|GPO]] (left) at [[B. B. D. Bagh|Dalhousie Square]], [[Kolkata]].]]
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Key tools in this effort include Priority Sector Lending such as agriculture, micro and small enterprises (MSE), housing and education. RBI work towards strengthening and supporting small local banks and encourage banks to open branches in rural areas to include large section of society in banking net.
Key tools in this effort include Priority Sector Lending such as agriculture, micro and small enterprises (MSE), housing and education. RBI work towards strengthening and supporting small local banks and encourage banks to open branches in rural areas to include large section of society in banking net.


=== Related functions ===
=== Banker to the Government ===
The RBI is also a banker to the government and performs merchant banking function for the central and the state governments. It also acts as their banker. The [[National Housing Bank]] (NHB) was established in 1988 to promote private real estate acquisition.<ref>{{cite journal|jstor=41107204|doi=10.1023/A:1014831817503|title=Role of state and market in housing delivery for low-income groups in India|journal=Journal of Housing and the Built Environment|volume=17|issue=1|pages=69–88|last1=Sivam|first1=Alpana|last2=Karuppannan|first2=Sadasivam|year=2002|s2cid=150998521}}</ref>
The RBI is also a banker to the government and performs merchant banking function for the central and the state governments. It also acts as their banker. The [[National Housing Bank]] (NHB) was established in 1988 to promote private real estate acquisition.<ref>{{cite journal|jstor=41107204|doi=10.1023/A:1014831817503|title=Role of state and market in housing delivery for low-income groups in India|journal=Journal of Housing and the Built Environment|volume=17|issue=1|pages=69–88|last1=Sivam|first1=Alpana|last2=Karuppannan|first2=Sadasivam|year=2002|s2cid=150998521}}</ref>
The institution maintains banking accounts of all scheduled banks, too.
The institution maintains banking accounts of all scheduled banks, too.
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== Training Academies ==
== Training Academies ==
'''Reserve Bank Staff College''',<ref>{{cite web |title=Reserve Bank Staff College |url=https://www.rbi.org.in/Scripts/rbsc.aspx  |location=Anna Salai, Teynampet, Chennai |website=Reserve Bank of India |access-date=7 February 2023}}</ref> [[Chennai]], the '''Reserve Bank of India Academy''',<ref>{{cite web |title=About Us |url=https://rbiacademy.rbi.org.in/About |website=Reserve Bank of India Academy |publisher=Reserve Bank of India |access-date=7 February 2023 |location=Shahid Bhagat Singh Road, Mumbai}}</ref> [[Mumbai]], and the '''Reserve Bank of India College of Agricultural Banking''',<ref>{{cite web |title=Contact Us |url=https://cab.rbi.org.in/contact/contactus |website=College of Agriculture Banking |publisher=Reserve Bank of India |access-date=7 February 2023 |location=University Road, Pune}}</ref> [[Pune]], the three training colleges of the Reserve Bank, train the officers of the Reserve Bank of India, and the banking industry.<ref>[https://rbidocs.rbi.org.in/rdocs/AnnualReport/PDFs/56248.pdf 14: Human Resources Development and Organisational Matters] Reserve Bank of India</ref>
'''Reserve Bank Staff College'''<ref>{{cite web |title=Reserve Bank Staff College |url=https://www.rbi.org.in/Scripts/rbsc.aspx  |location=Anna Salai, Teynampet, Chennai |website=Reserve Bank of India |access-date=7 February 2023}}</ref> [[Chennai]], '''Reserve Bank of India Academy'''<ref>{{cite web |title=About Us |url=https://rbiacademy.rbi.org.in/About |website=Reserve Bank of India Academy |publisher=Reserve Bank of India |access-date=7 February 2023 |location=Shahid Bhagat Singh Road, Mumbai}}</ref> [[Mumbai]], and '''Reserve Bank of India College of Agricultural Banking'''<ref>{{cite web |title=Contact Us |url=https://cab.rbi.org.in/contact/contactus |website=College of Agriculture Banking |publisher=Reserve Bank of India |access-date=7 February 2023 |location=University Road, Pune}}</ref> [[Pune]]. The 3 training colleges of the Reserve Bank of India, train the officers of the Reserve Bank of India, and the banking industry.<ref>[https://rbidocs.rbi.org.in/rdocs/AnnualReport/PDFs/56248.pdf 14: Human Resources Development and Organisational Matters] Reserve Bank of India</ref>


==Research Units==
==Research Units==
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==All India Financial Institutions separated from Reserve Bank of India ==
==All India Financial Institutions separated from Reserve Bank of India ==
===Regulatory Bodies<ref>{{Cite journal |title=Financial Regulatory Bodies in India |url=https://groww.in/blog/financial-regulatory-bodies-in-india |journal=[[Groww]]}}</ref>===
Regulatory Bodies:<ref>{{Cite journal |title=Financial Regulatory Bodies in India |url=https://groww.in/blog/financial-regulatory-bodies-in-india |journal=[[Groww]]}}</ref>


* ''Export - Import Bank of India''
* ''Export - Import Bank of India''
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* ''[[Small Industries Development Bank of India]]''  
* ''[[Small Industries Development Bank of India]]''  
* ''[[National Housing Bank]]''
* ''[[National Housing Bank]]''
== Notes ==
{{notelist}}


== References ==
== References ==
{{reflist|colwidth=30em}}
{{reflist}}


== Further reading ==
== Further reading ==
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== External links ==
== External links ==
{{Commons category}}
 
* {{Official website|https://www.rbi.org.in/}}
* {{Official website|https://www.rbi.org.in/}}
* [https://rbi.org.in/Scripts/FAQView.aspx?Id=119 FAQ answers and Guidelines on Reserve Bank of India]
* [https://rbi.org.in/Scripts/FAQView.aspx?Id=119 FAQ answers and Guidelines on Reserve Bank of India]
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