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Since its establishment in 1935 by the government of the Republic of India, the RBI has been headed by twenty-six governors. The governor of the Reserve Bank of India is a member of the Strategic Policy Group headed by National Security Advisor Ajit Doval. It is a crucial wing of the National Security Council. [clarification needed]
The Reserve Bank of India (abbreviated as RBI) is India's central bank and regulatory body responsible for regulation of the Indian banking system. Owned by the Ministry of Finance of the Government of the Republic of India, it is responsible for the control, issue and maintaining supply of the Indian rupee.
Since its establishment in 1934 by the government of India, the RBI has had 63 deputy governors. Currently the rank of deputy governor is equivalent to the rank of secretary to the govt. of India. The term of office typically runs for three years and can, in some cases, be extended for another two years.
National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the Reserve Bank of India (RBI). Started in November 2005, the setup was established and maintained by Institute for Development and Research in Banking Technology. [1]
This led to uncertainty and resulted in friction between the government and the RBI, especially during the times of low growth and high inflation. Before the constitution of the MPC, a Technical Advisory Committee (TAC) on monetary policy with experts from monetary economics, central banking, financial markets and public finance advised the ...
NIBM was established on September 24, 1969, by the Reserve Bank of India (RBI), in consultation with the Government of India (GoI), as an autonomous apex institution for research, training, education and consultancy in Bank Management. Its mandate is to play a proactive role of "think-tank" of the banking system.
Ram Narain Malhotra [1] popularly known as R. N. Malhotra (1926 [2] – 29 April 1997 [3] [4]) was the seventeenth governor of the Reserve Bank of India (RBI), serving from 4 February 1985 to 22 December 1990. [5] Malhotra was a member of the Indian Administrative Service.
Section 22 states that only the RBI has the exclusive rights to issue currency notes in India. Section 24 states that the maximum denomination a note can be is ₹ 10,000 (US$120). Section 26 of Act describes the legal tender character of Indian bank notes. Section 28 allows the RBI to form rules regarding the exchange of damaged and imperfect ...