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Presently the Banking Ombudsman Scheme 2006 (As amended up to 1 July 2017) is in operation. [1] From 2002 until 2006, around 36,000 complaints have been dealt by the Banking Ombudsmen. There are 22 regional offices of Banking Ombudsmen in India. The latest offices are opened in Jammu, Raipur, Mumbai-II & New Delhi-III. [citation needed]
Reserve Bank of India, abbreviated as RBI, is the central bank of India, and regulatory body responsible for regulation of the Indian banking system and Indian currency. Owned by the Ministry of Finance , Government of India , it is responsible for the control, issue, and maintenance of the supply of the Indian rupee.
Narasimham was a RBI research officer who served as an additional Secretary to the Department of Economic Affairs prior to becoming the governor. 14 I. G. Patel: 1 December 1977 — 15 September 1982 4 years, 288 days Patel was an economist who served as a secretary in the Ministry of Finance prior to becoming the governor.
Cheque Truncation System (CTS) or Image-based Clearing System (ICS), in India, is a project of the Reserve Bank of India (RBI), commenced in 2010, for faster clearing of cheques. [1] CTS is based on a cheque truncation or online image-based cheque clearing system where cheque images and magnetic ink character recognition (MICR) data are ...
MP for Outer Delhi: 1 July 2002 22 May 2004 1 year, 326 days: Bharatiya Janata Party: Minister of Labour and Employment 29 Sis Ram Ola (1927–2013) MP for Jhunjhunu: 23 May 2004 27 November 2004 188 days: Indian National Congress: Manmohan I: Manmohan Singh: 30 K. Chandrashekar Rao (born 1954) MP for Karimnagar: 27 November 2004 24 August 2006 ...
Payment and settlement systems are used for financial transactions in India. Covered by the Payment and Settlement Systems Act of 2007 (PSS Act), legislated in December 2007, they are regulated by the Reserve Bank of India (RBI) and the Board for Regulation and Supervision of Payment and Settlement Systems.
Governor of the Reserve Bank of India – Chairperson, ex officio - Sanjay Malhotra; Deputy Governor of the Bank in charge of monetary policy – M Rajeshwar Rao * [7] Executive Director of the Bank in charge of monetary policy – Rajiv Ranjan [8] Ram Singh, Director, Delhi School of Economics, University of Delhi. Saugata Bhattacharya, Economist.
A 2010 stamp dedicated to Sorabji Pochkhanawala and the 100th anniversary of the Central Bank of India. The Central Bank of India was established on 21 December 1911 by Sir Sorabji Pochkhanawala with Sir Pherozeshah Mehta as chairman, [6] and the first commercial Indian bank completely owned and managed by Indians.