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Patel is an economist who worked with the IMF and the central government. He served as the deputy governor of RBI prior to becoming the governor. His governorship oversaw the demonetization of ₹500 and ₹1000 banknotes. He later resigned citing personal reasons. [6] [7] [8] 25 Shaktikanta Das: 12 December 2018 — 11 December 2024 5 years ...
Sanjay Malhotra (born 14 February 1968) is an Indian bureaucrat who is serving as the Current and 26th Governor of the Reserve Bank of India (RBI) since December 11, 2024. [ 3 ] [ 4 ] He is an Indian Administrative Service Officer of 1990 Batch Rajasthan Cadre. [ 5 ]
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.
The RBI regulates this ratio so as to control the amount a bank can lend to its customers. For example, an individual wants to buy a car using borrowed money and the car's value is ₹1 million. If the LTV is set to 70% he can borrow a maximum of ₹700,000. The RBI can decrease or increase to curb inflation or deflation respectively.
The Digital Rupee's offline capability and programmability have been announced by RBI on 8 February 2024. e₹-R will allow offline transactions in places with spotty or nonexistent internet access. Numerous offline methods, both proximity- and non-proximity-based, will be assessed in mountainous, rural, and urban settings in order to ...
In May 2024, The Small Industries Development Bank of India (SIDBI) signed a MoU with Airbus Helicopters to finance civil helicopter purchases in India. [17] [18]
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 ...
Raghuram Rajan was born on 3 February 1963 in Bhopal, Madhya Pradesh, [10] some metres from where the Gas Tragedy took place. [11]Assigned to the Intelligence Bureau, R. Govindarajan, his father, was posted to Indonesia in 1966.