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Reserve Bank Of India

Reserve Bank Of India. To regulate the issue of bank notes. To maintain reserves with a view to securing monetary stability. To operate the credit & currency system of the country. Board of RBI. Bank affair’s are governed by Central Board of Directors

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Reserve Bank Of India

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  1. Reserve Bank Of India • To regulate the issue of bank notes. • To maintain reserves with a view to securing monetary stability. • To operate the credit & currency system of the country.

  2. Board of RBI • Bank affair’s are governed by Central Board of Directors • Central Board consists of Official and Non-Official appointed by Govt. of India for a period of four years. • Official Directors include Governor and not more than 4 Deputy Governor. • RBI having four local boards in 4 regions to represent territorial and economic interest of local co-operative & indigenous banks.

  3. Legal Framework • Umbrella Acts which form the basis of its very foundation. • Acts which govern the specific function of apex body. • Acts which govern the Banking operation. • Acts which govern the individual institutions.

  4. Main Functions of Reserve Bank of India • Maintenance of Price Level. • Regulator & Supervisor of the financial system. • Manager of Foreign Exchange. • Issuance & Replacement of Currency.

  5. Functions of Various Departments of RBI • Urban Banks Department: RBI regulates the interest rates on deposits & advances, also prescribing min reserves & liabilities to be maintained. Also refinance facilities to state co-operative banks. • Rural Planning & Credit Department: Facilitating credit to rural, agriculture & small scale industries, Policy on priority sector lending, support to NABARD etc.

  6. Foreign Exchange Department: • Timely realization of export proceeds and reviews • Licensing banks to deal in foreign exchange, collecting data related to forex transactions from authorized dealers on daily basis for exchange rate management. • Also laying down policy guidelines for risk management to forex transactions in bank

  7. Department of Banking Supervision • Undertaking scheduled and on-site inspections of banks • Determining the criteria for the appointment of statutory auditors and assessing audit performance and disclosure standards. • Dealing with financial sector frauds and attending the complaints received against banks and FI’s from public, banks & Government.

  8. Department of Banking Operations & Development • To promote & foster a sound & competitive banking system. • Laying down regulations relating to capital adequacy, asset classification, provision for loan, investment valuation, accounting & disclosure standards and risk management systems. • Licensing of new banks, expansion of foreign and domestic banks, approval for setting up of subsidiaries.

  9. Functions of Various Departments of RBI • Department of Information Technology: Computerization in RBI • Legal Department: To tender legal advice on various matters referred by the operational departments/offices/associates of the reserve bank. • Department of Govt. and Bank Accounts: Acting as a banker to the banks, administering public debt of both central & state govt.

  10. Functions of Various Departments of RBI • Monetary Policy Department: Preparation of monetary budget, periodic review of monetary, review of CRR & SLR stipulations, analysis of data on developments in money market. • Internal Debt Management Dept.: Managing Internal Debt, Auctioning the govt. Debt from time to time, Introduction of new instruments, smoothening the maturity structure of debt.

  11. Department of Economic Analysis and Policy • Analyzing the basic issues & problems affecting the Indian economy. • Serves as a primary source of data & information relating to aspects of Indian economy. • Prepares monetary & credit aggregates, balance of payments and external debt statistics, internal debt & govt. finance statistics, and flow of funds & financial savings.

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