Diversified Financial Services
Company Overview of Reserve Bank of India
Reserve Bank of India regulates the issue of bank notes, maintains reserves to secure monetary stability, and operates the currency and credit system in India. The company also formulates, implements, and monitors the monetary policy; prescribes broad parameters for banking operations within which the country's banking and financial system work; and issues and exchanges or destroys currency and coins not fit for circulation. It also performs various promotional functions to support national objectives; manages the foreign exchange management; and performs merchant banking function for the central and the state governments, as well as acts as their banker. Reserve Bank of India was founded in...
Central Office Building
Shahid Bhagat Singh Marg
Founded in 1935
Key Executives for Reserve Bank of India
Chief General Manager of Premises Department
Head of Economic Policy Statistics & Information and Executive Director
Deputy Governor, Interim Head of Monetary Policy Department and Director
Deputy Governor, Director and Member of Committee on Comprehensive Financial Services for Small Businesses & Low-Income Households
Compensation as of Fiscal Year 2016.
Reserve Bank of India Key Developments
RBI Appoints R. Gandhi as Interim Head of Monetary Policy Department
Sep 7 16
RBI announced that deputy governor, R Gandhi, is to hold temporary charge of the Monetary Policy Department until the bank hires a new deputy governor. Gandhi was given control after Urjit Patel, who was looking after the portfolio, was elevated to governor.
The Reserve Bank of India Announces Mandatory for Credit Information Companies to Provide One Base Level Consumer Credit Information Report
Sep 5 16
The Reserve Bank of India has made it mandatory for Credit Information Companies (CIC) to provide one base level consumer Credit Information Report (CIR) free of cost every year from January 1, 2017. The central bank has announced the report must contain the latest position on credit institutions' exposure to the individual as per records available with the CIC. The contents provided by the credit information company in the Free Full Credit Report (FFCR) has to be the same as appearing in the most detailed version of the reports on the individual provided to credit institutions, including the credit score.
Reserve Bank of India Appoints Urjit Patel as New Governor
Aug 20 16
The Indian government has named insider Urjit Patel as the new governor of the Reserve Bank of India to replace popular central banker Raghuram Rajan when his term ends in September. The appointment of Patel, currently the RBI's deputy governor, ends weeks of feverish speculation by the Indian media since Rajan caught investors off guard in June by announcing he was stepping down to return to academia.
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