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Historical Background and Introduction of Reserve Bank Of India 🇮🇳 [RBI] (in Hindi)
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The Reserve Bank of India is the central bank of the country. Central banks are a relatively recent innovation and most central banks, as we know them today, were established around the early twentieth century. The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission. The Reserve Bank of India Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935. The Bank was constituted to * Regulate the issue of banknotes * Maintain reserves with a view to securing monetary stability and * To operate the credit and currency system of the country to its advantage. The Bank began its operations by taking over from the Government the functions so far being performed by the Controller of Currency and from the Imperial Bank of India, the management of Government accounts and public debt. The existing currency offices at Calcutta, Bombay, Madras, Rangoon, Karachi, Lahore and Cawnpore (Kanpur) became branches of the Issue Department. Offices of the Banking Department were established in Calcutta, Bombay, Madras, Delhi and Rangoon. Burma (Myanmar) seceded from the Indian Union in 1937 but the Reserve Bank continued to act as the Central Bank for Burma till Japanese Occupation of Burma and later upto April, 1947. After the partition of India, the Reserve Bank served as the central bank of Pakistan upto June 1948 when the State Bank of Pakistan commenced operations. The Bank, which was originally set up as a shareholder's bank, was nationalised in 1949. An interesting feature of the Reserve Bank of India was that at its very inception, the Bank was seen as playing a special role in the context of development, especially Agriculture. When India commenced its plan endeavours, the development role of the Bank came into focus, especially in the sixties when the Reserve Bank, in many ways, pioneered the concept and practise of using finance to catalyse development. The Bank was also instrumental in institutional development and helped set up insitutions like the Deposit Insurance and Credit Guarantee Corporation of India, the Unit Trust of India, the Industrial Development Bank of India, the National Bank of Agriculture and Rural Development, the Discount and Finance House of India etc. to build the financial infrastructure of the country. With liberalisation, the Bank's focus has shifted back to core central banking functions like Monetary Policy, Bank Supervision and Regulation, and Overseeing the Payments System and onto developing the financial markets.

Vikas Kumar Singh Tomar
Faculty of GA&GS in Delhi Since 2010.Selected in LIC(ADO),BankPO,CGL.2 Times Mains in CSE.Founder:-GovtJobsAcademy @Youtube/Telegram/FB/Web.

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Lokender Pal
a year ago
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  3. RBI: A CENTRAL BANK. INTRODUCTION OF RBI OFFICES OF RBI BOARD OF DIRECTORS SUBSIDIARY OF RBI MAIN FUNCTION OF RB


  4. Objectives of the Central Bank Maintain internal value of currency Promote financial institutions Preserve the external value of rupee Promote economic growth Ensure price stability


  5. Introduction The Reserve Bank of India is the Central and apex banking institution in India I is a state-owned organization that functions as a corporate body with special powers and obligations for serving the national interest. Reserve Bank of India Act, 1934: governs the Reserve Bank functions . Banking Regulation Act, 1949: governs the financial sector


  6. Introduction to RBI .The central bank of the country is the Reserve Bank of India (RBI) .It was established in April 1935 with a share capital of Rs. 5 crores on the basis of the recommendations of the Hilton Young Commission The share capital was divided into shres of Rs. 100 each fully paid which was entirely owned by private shareholders in the beginning. .The Government held shares of nominal value of Rs. 2.20,000 Reserve Bank of India


  7. HISTORY It was established on April 1935 during British Raj in accordance with the provisions of Reserve Bank of India Act 1935 1913-Chamber lane commission suggest a central bank for India 1926-Royal Commission/ Hilton Young Commission again suggested a central Bank for India. It began according to the guidelines laid down by Dr. Ambedkar. He presented guidelines, working style and outlook in from of Hilton Commission 1 Jan 1949-Nationalization of RBI under public ownership act (1948) as government acquired private share holding. It was established on 1 April 1935 with a capital of 5 crore. This capital was divided into shares equity of Rs. 100 each. In the beginning, the ownership of almost all the share was with a non govemment share holders


  8. Important Events in RBI History Date 4th August 1926 5th March 1934 chronological order Hilton Young Commission report recommends the establishment of RBI Reserve bank of India act passed which provided statutory basis of the bank functioning. Reserve Bank of India commenced operations. Sir Osborne Smith was the First Governor of the Bank. Banking fiunctions in Burma Ceased with the termination of 1t April 1947 Part II of Burma Monetary arrangements Bank ceased to be the Currency Authority of Pakistan and State Bank of Pakistan commenced operations from 1 July 1948 30th June1948 1st January 1949 16 March 1949 Reserve Bank of India Nationalised. SLR(Statutory Liquid Ratio) introduced for the first time.


  9. BANK Seal of RBI


  10. Current RBLogo: East India Company BANK


  11. The Governor is seated in the central office and formulation of policies take place here. Initially RBI was privately owned. It was nationalized on 1 Jan 1949. It is fully owned by the Government of India.


  12. Chank ou