Which is the central bank of india

Hello friends, in today's article we are going to talk about the Central Bank of India like what is the Central Bank, when was the Central Bank of India established and its old name What is, where is the headquarter of the Central Bank of India, when the Central Bank of India was nationalized, what are the functions of the Central Bank of India, Central Bank of India In this article, we will know in detail about who has been the governor of India and who is at present, what is the symbol of the Central Bank of India, etc. After reading this article, you will not need to read another article to know about the Central Bank of India, then definitely read the article till the end. So let's start.

Which is the central bank of india

Which is the Central Bank of India?

      If we talk about the central bank of India, then the central bank of India is RBI, whose full name is Reserve Bank of India and it is called Indian Reserve Bank in Hindi. But in the British period before independence, its name was only Reserve Bank.

What is Reserve Bank of India?

       Reserve Bank of India which is the apex bank of India i.e. the central bank of India. Whose job is not to make profit. The Reserve Bank of India controls all the banks in India, acts as an agent of the government, prints notes, acts as a banker of banks, and contributes significantly to the country's economy. is etc.

When was the Central Bank of India established and nationalized?

         For the establishment of India's Central Bank i.e. Reserve Bank, "Hilton Young Commission" was first formed, then in 1934 the Banking Act was formed and it was established on 1 April 1935 and nationalized on 1 January 1949. The name of Reserve Bank was Reserve Bank at the time of establishment but after nationalization it was renamed as Reserve Bank of India.

Where is the headquarter of Reserve Bank of India?

         When the Reserve Bank of India was established, its headquarter was in Kolkata but in 1937 its headquarter was shifted from Kolkata to Mumbai. At present also its headquarter is in Mumbai only.

Which animal is featured on the emblem of the Reserve Bank of India?

A palm tree and a tiger are inscribed on the emblem of the Reserve Bank of India. This sign is a sign of the colonial past and has been taken from the insignia of the East India Company!

Who is the first and present Governor of Reserve Bank of India?

       The current governor of the Reserve Bank of India is "Shaktikanta Das", who took office on 11 December 2018 and is still working (2023). Which is the governor of number 25. Even before this there have been many governors whose names are given below.

1. Sir Osborne Smith - 1 April 1935 to 30 June 1937

2. Sir James Brad Taylor - 1 July 1937 to 17 February 1943

3. Sir CD Deshmukh - 11 August, 1943 to 30 June, 1949

4. Sir Benegal Rama Rao - 1 July 1949 to 14 January 1957

5.KG Ambegaonkar - 14 January, 1957 to 28 February, 1957

6. HVR Iyengar - March 1, 1957 to February 28, 1962

7. PC Bhattacharya - 1 March 1962 to 30 June 1967

8. LK Jha - 1 July, 1967 to 3 May, 1970

9.BN Adarkar - 4 May, 1970 to 15 June, 1970

10. S. Jagannathan - 16 June, 1970 to 19 May, 1975

11. NC Sen Gupta - 19 May, 1975 to 19 August, 1975

12. KR Puri - 20 August, 1975 – 2 May, 1977

13. M. Narasimhan - 3 May, 1977 to 30 November, 1977

14. IG Patel - 1 December, 1977 to 15 September, 1982

15. Manmohan Singh - 16 September, 1982 to 14 January, 1985

16. Amitav Ghosh - 15 January, 1985 to 4 February, 1985

17. RN Malhotra - February 4, 1985 to December 22, 1990

18. S. Venkataraman - 22 December, 1990 to 21 December, 1992

19.c. Rangarajan - 22 December 1992 to 21 November 1997

20. Bimal Jalan - 22 November 1997 to 6 September 2003

21. YV Reddy - 6 September, 2003 to 5 September, 2008

22.D Subbarao - 5 September 2008 to 4 September 2013

23. Raghuram Rajan - 4 September, 2013 to 4 September, 2016

24. Urjit Patel - 4 September, 2016 to 11 December, 2018

25. Shashikant Das December 12, 2018 till date (2023)

What are the functions of Reserve Bank of India?

The Reserve Bank of India works to maintain price stability and ensure adequate credit availability to productive sectors.

  The Reserve Bank of India sets the broad parameters for banking operations within which the country's banking and financial system functions.

The objectives of the Reserve Bank of India are to maintain public confidence in the system, protect the interests of depositors and provide affordable banking services to the general public.

The function of the Reserve Bank of India is to facilitate foreign trade and payments and to maintain and develop the orderly development of the foreign exchange market in India.

The Reserve Bank of India issues and exchanges currency or destroys currency and coins that are no longer fit for circulation. To control the issue of bank notes, to maintain reserves with a view to achieving monetary stability in India, and generally to operate the currency and credit system in the interest of the country." To make available to the general public an adequate supply of good quality currency notes and coins.

The work of the Reserve Bank of India is to do a wide range of promotional work to help national objectives, formulating monetary policy, implementing and monitoring it, regulating and supervising the financial system, managing foreign exchange, etc.

Reserve Bank of India to act as banker to the government and banker to the banks. The Reserve Bank of India gives loans to the government and also provides loans to banks if needed, etc.

What is the current bank rate of RBI?

Bank Rate : 6.50%

Repo rate: 6.25%

Reverse Repo Rate: 3.35%

Marginal Standing Facility (MSF) Rate: 6.50%

Cash Reserve Ratio (CRR): 4.50%

SLR Rate: 18.00% (All these figures are of December 2022)