RBI head quarter located in Mumbai Maharashtra. The present governor is Duvvuri Subbarao. RBI has 26 offices out of which four are regional offices located in metropolitan cities.
It was started as share-holders bank with a paid up capital of INR 5 crores. Initially it was located in Kolkata.
It moved to Mumbai in Earlier RBI was privately owned later on inthe bank was nationalised and is fully owned by the Govt. The central board performs the functions of general superintendence and direction of the banks affairs.
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It includes the following Official directors A. Nominated by Government: Ten Directors from various fields and two government officials B. Others: Four directors - one each from four local boards Organization of The RBI Functions : To advise the Central Board on local matters and to represent territorial and economic interests of local cooperative and indigenous banks.
Formulates, implements and monitors the monetary policy. Objective: maintaining price stability and ensuring adequate flow of credit to productive sectors.
Regulator and supervisor of the financial system: A. Prescribes broad parameters of banking operations within which the country's banking and financial system functions. Manager of Foreign Exchange A. Manages the Foreign Exchange Management Act, Objective: to facilitate external trade and payment bitcoin rbi guvernator promote orderly development and maintenance of foreign exchange market in India.