Reserve Bank of India
01. Central
bank is a bank which acts as a banker to the government; has monopoly of
note issue and controls the entire banking system
02. RBI is the
central bank in India
03. RBI was
established by an act of Parliament in 1934
04. The
initial share capital for RBI was Rs. 5 crores
05. RBI was
nationalized under (transfer of public ownership) act 1948
06. Its
affairs are regulated by central board of directors
07. It has
four regional centres at Mumbai, Kolkatta, Chennai and Delhi
08. The
central office of the bank is at Mumbai
09. RBI is note
issuing authority; banker, agent and financial adviser to the government;
custodian of cash reserves of banks; custodian of nation’s reserves of foreign
exchange; lender of the last resort; controller of credit etc.
10. Currency
notes other than one rupee notes are issued by RBI
11. RBI has
credit control – regulation of cash reserves of commercial banks, regulating
the flow of credit, qualitative control and open market operations
12. Handles all
government transactions
13. It is a
banker’s bank
14. It
maintains the exchange rate for the Indian rupee; hold the country’s
reserves in foreign currencies and administration of the exchange management
regulations
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