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February 11, 2016 12:52 AM ET

Diversified Financial Services

Company Overview of Reserve Bank of India

Company Overview

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

21st Floor

Shahid Bhagat Singh Marg

Mumbai,  400001

India

Founded in 1935

Phone:

91 22 2266 0868

Fax:

91 22 2266 1784

Key Executives for Reserve Bank of India

Governor and Director
Chief General Manager of Premises Department
Deputy Governor and Director
Age: 61
Head of Economic Policy Statistics & Information and Executive Director
Deputy Governor and Director
Compensation as of Fiscal Year 2015.

Reserve Bank of India Key Developments

The Reserve Bank of India Slaps Fine of INR 0.2 Million on Laxman Leafin

The Reserve Bank of India (RBI) has imposed a monetary penalty of INR 0.2 million on Laxman Leafin, for violation of the provisions of issuance of non-convertible debentures. The company redeemed all the debentures by March 31, 2015, violation of the provisions of issuance of non-convertible debentures guideline issued by the central bank.

Reserve Bank of India Imposes Monetary Penalty of INR 10 Million on State Bank of Travancore for Violation of its Instructions

The Reserve Bank of India has imposed monetary penalty of INR 10 million on State Bank of Travancore for violation of its instructions, on reporting of data to Central Repository of Information on Large Credits (CRILC). The penalties have been imposed in exercise of powers vested in the Reserve Bank under the provisions of Section 47(A) (1) (c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account the violations of the instructions/directions/guidelines issued by the Reserve Bank from time to time. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank and its customers.

The Reserve Bank of India Opens Door for Banking M&As, Allows Individuals to Own More Than 10% in Banks

The Reserve Bank of India has thrown open the doors for mergers and acquisitions in the banking industry by signaling that it is open to persons owning more than 10% stake in a bank. For the first time in decades the central bank has said that it could permit promoters, or investors to own more than 10% if the applicant meets certain conditions including if it is in public interest and in the desirability of diversified ownership. Many investors who owned up to 4.99% in banks and were keen on raising it but did not do so till now will have an opportunity to raise their holdings. If they get the central bank permission to buy 5%, then they automatically have a right to go up to 10%. For a central bank which has been rigid about the 5% cap on ownership and a 10% voting rights to ensure that no single holder gets a dominant position in running a bank, the latest is a reversal of policy.

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