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
Deputy Governor and Director
Head of Economic Policy Statistics and Information
Compensation as of Fiscal Year 2015.
Reserve Bank of India Key Developments
the Reserve Bank Imposes Penalty on Dhanlaxmi Bank
Nov 5 15
The Reserve Bank of India has imposed a monetary penalty of INR 10 million on Dhanlaxmi Bank Ltd. for violation of its instructions, among other things, on KYC norms and AML standards. After considering the bank's reply, as also, personal submissions, information submitted and documents furnished, RBI came to the conclusion that the bank had violated the instructions/guidelines issued, from time to time, which warranted imposition of monetary penalty on it.
Reserve Bank of India Announces Executive Changes
Nov 3 15
Reserve Bank of India promoted Deepak Singhal as the new executive director of the central bank effective immediately. He will look after six departments at the central bank including the central security cell, corporate strategy and budget department and human resources management department among others. K. K. Vohra, who was earlier looking after these departments will now look after the Deposit Insurance and Credit Guarantee Corporation (DICGC).
Reserve Bank of India Introduces New Features in INR 500 and INR 1,000 Notes
Sep 23 15
Reserve Bank of India announced that it will shortly put into circulation banknotes in the denominations of INR 500 and INR 1,000 incorporating three new/revised features. The features will include ascending size of numerals in the number panels, bleed lines and enlarged identification mark. The RBI had recently put into circulation R500 banknotes with numerals in ascending size in number panels, but without bleed lines and enlarged identification mark. It has now added two more features to aid the visually impaired in easy identification of banknotes, apart from securing them against counterfeiting. The apex bank said the numerals in both the numbering panels of banknotes will be in ascending size from left to right, while the first three alpha-numeric characters will remain constant in size. The banknotes of INR 500 denomination will have five angular bleed lines in three sets of 2-1-2 lines on the obverse in both, the upper left and the right hand edge of the banknote. Similarly, INR 1,000 banknotes will have six angular bleed lines in four sets of 1-2-2-1 lines on the obverse in both, the upper left and right hand edge of the banknotes. These will facilitate identification of these notes by visually impaired persons.
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