RBI Organization & Management05/02/2021
RBI is managed by the Central Board of Directors.
Presently, there are 21 members:
Governor for a period of 5 years
Four Deputy Governors for a period of 5 years
Four Directors (Each nominated by four Local Boards)
Ten Directors (Nominated by Government of India)
Two government officers (Nominated by Government of India)
GOVERNORS OF RBI
First Governor of RBI – Sir Osborne Smith
First Indian Governor of RBI – Sir CD Deshmukh
Current Govenor – 25th Shaktikanta Das (who took charge from Dr D Subbarao )
RBI’s fully owned subsidiaries are:
- National Housing Bank (NHB)
- Deposit Insurance and Credit Guarantee Corporation (DICGC)
- Bhartiya Reserve Bank Note Mudran Private Limited (BRBNMPL)
- Majority stake in National Bank of Agriculture and Rural Development (NABARD)
DEPARTMENTS OF RBI
|Currency Management||Responsible for administration of currency issuance. (Core function of RBI, RBI Act, 1934)|
|Banking Operations and Development||Responsible for regulations of Commercial Bank under provisions of Banking Regulation Act,1934 and RBI Act, 1934|
|Rural Planning and Credit||Formulates policies related to rural population (Rural credit and employment programmes)|
|Foreign Exchange||Facilitate external trade and payment and promote the development and maintain the foreign exchange market in India. (FEMA, 1999)|
|Inspection||Assign duties on behalf of top management and provide feedback to top management for efficient and effective working of organisation.|
Departments of RBI
The various departments of the Reserve Bank of India are listed below:
- Information Technology.
- Economic Analysis and Policy.
- Statistical Analysis and Computer Services.
- Monetary Policy.
- Premises Department.
- Secretary’s Department.
- Press Relations.
- Exchange Control.
- Rural Planning and Credit.
- Financial Institutions Division.
- Banking Supervision.
- Banking Operations and Development.
- Financial Companies.
- Non-banking Supervision.
- Administration and Personnel Management.
- Human Resources Development.
- Deposit Insurance and Credit Guarantee Corporation.
- Urban Banks.
- Currency Management.
- External Investments and Operations.
- Expenditure and Budgetary Control.
- Government and Bank Accounts.
- Internal Debt Management Cell.
- Industrial and Export Credit.