How many reserve banks are there in India?

How many reserve banks are there in India?

The Reserve Bank of India has offices at 31 locations.

Where is Reserve Bank of India situated?

Mumbai
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 Kolkata but was permanently moved to Mumbai in 1937.

What is the name of the Reserve Bank of India?

(RBI)
The Reserve Bank of India (RBI) is the central bank of India, The RBI was originally set up as a private entity in 1935, but it was nationalized in 1949.

Who manages the Reserve Bank of India?

The RBI board Currently, Shaktikanta Das is the Governor of the Reserve Bank of India. There are three Deputy Governors — B P Kanungo, Mahesh Kumar Jain, and M D Patra.

What is the main function of RBI?

In the Indian context, the basic functions of the Reserve Bank of India as enunciated in the Preamble to the RBI Act, 1934 are: “to regulate the issue of Bank notes and the 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 …

Which is not the main work of RBI?

Providing credit to the general public is a job which is done by the commercial banks and not the RBI.

What are the advantages of RBI?

This concentration of notes issue function with the Reserve Bank has a number of advantages: (i) it brings uniformity in notes issue; (ii) it makes possible effective state supervision; (iii) it is easier to control and regulate credit in accordance with the requirements in the economy; and (iv) it keeps faith of the …

What are the powers of RBI?

Powers of RBI

S.no Power Section
1 Power of direct discount. 18
2 Power to require returns from co-operative banks. 44
3 Power to collect credit information. 45B
4 Power to call for returns containing credit information 45C

What is main function of RBI?