February 01, 2015 12:00 PM ET

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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

Key Executives for Reserve Bank of India

Deputy Governor and Director
Age: 64
Deputy Governor
Age: 60
Head of Economic Policy Statistics and Information
Executive Director
Age: 60
Compensation as of Fiscal Year 2014.

Reserve Bank of India Key Developments

Pras Michel To Reportedly Buy Grosvenor And Plaza

A consortium said to include Pras Michel will pay £1.3 billion for Grosvenor House Hotel and PLAZA IP HOLDINGS LLC (USA) to allow Subrata Roy to buy his way out of jail. The deal is structured as a one-year loan which will allow Subrata Roy to repay a $900 million debt to Bank of China Limited (SEHK:3988) and transfer $1.6 billion to the Reserve Bank of India to clear his release.

Reserve Bank of India Presents at Morningstar Investment Conference - Mumbai, Nov-11-2014 11:10 AM

Reserve Bank of India Presents at Morningstar Investment Conference - Mumbai, Nov-11-2014 11:10 AM. Venue: Grand Hyatt Mumbai, Western Express Hwy, Santacruz East Mumbai 400055, Maharashtra, India. Speakers: Deepak Mohanty, Head of Economic Policy Statistics and Information.

The Reserve Bank of India Appoints Three New Executive Directors

The Reserve Bank of India announced that it appointed three new executive directors, created two additional ED posts and promoted one senior official to fill an existing ED vacancy as part of reorganization. The newly appointed EDs are M.D. Patra, K.K. Vohra and G. Mahalingam. With the creation of two additional posts, the total number of EDs at the central bank goes up to nine. RBI also reorganized a number of departments under the EDs. For example, D.K. Mohanty now gets departments of financial stability, inspection and risk monitoring. According to RBI's organization chart, Mohanty's existing departments were economic and policy research, statistics and information management and monetary policy. With the reorganization, Patra gets the departments of economic and policy research and monetary policy. Similarly, U.S. Paliwal, who was earlier in charge of only the Rajbhasha department, now gets financial inclusion, among others. Chandan Sinha, who was earlier in charge of internal debt management department, gets departments of banking supervision, co-operative banking supervision and non-banking supervision. The revised allocations would be effective from November 3, 2014.

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