query: when was reserve bank of india taken over by the government

pos: Reserve Bank of India Reserve Bank of India The Reserve Bank of India (RBI) is India's central banking institution, which controls the issuance and supply of the Indian rupee. Until the Monetary Policy Committee was established in 2016, it also controlled monetary policy in India. It commenced its operations on 1 April 1935 in accordance with the "Reserve Bank of India Act, 1934". The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949. The RBI plays an important

neg: Indian 200-rupee note missing link in the Renard series. Besides the Indian Rupee, Euro and British Pound sterlings are two of the most notable currencies that are denominated in the 1-2-5 series. In March 2017, the decision to introduce ₹200 notes was taken by the Reserve Bank of India with the consultation of the Ministry of Finance. The currency is produced by printing units of the government-run Security Printing and Minting Corporation of India or at printing presses in Mysore and Salboni, managed by the Reserve Bank of India-owned Bharatiya Reserve Bank Note Mudran Private Limited, reportedly by Times of India. The Government

neg: State Bank of India Indian subcontinent. The Bank of Madras merged into the other two "presidency banks" in British India, the Bank of Calcutta and the Bank of Bombay, to form the Imperial Bank of India, which in turn became the State Bank of India in 1955. The Government of India took control of the Imperial Bank of India in 1955, with Reserve Bank of India (India's central bank) taking a 60% stake, renaming it the State Bank of India. In 2008, the government took over the stake held by the Reserve Bank of India. The roots of the State Bank of India lie

neg: Public sector banks in India Public sector banks in India Public Sector Banks (PSBs) are banks where a majority stake (i.e. more than 50%) is held by a government. The shares of these banks are listed on stock exchanges. There are a total of 21 Public Sector Banks alongside 1 state-owned Payments Bank in India. The Central Government entered the banking business with the nationalization of the Imperial Bank of India in 1955. A 60% stake was taken by the Reserve Bank of India and the new bank was named as the State Bank of India. The seven other state banks became the subsidiaries of

neg: Public sector banks in India profit in 2008-2009. Public sector banks in India Public Sector Banks (PSBs) are banks where a majority stake (i.e. more than 50%) is held by a government. The shares of these banks are listed on stock exchanges. There are a total of 21 Public Sector Banks alongside 1 state-owned Payments Bank in India. The Central Government entered the banking business with the nationalization of the Imperial Bank of India in 1955. A 60% stake was taken by the Reserve Bank of India and the new bank was named as the State Bank of India. The seven other state banks became

neg: Reserve Bank of India, South Zonal Office Bank of India Act, 1934 (II of 1934). The bank began its operations by taking over from the government the functions so far being performed by the Controller of Currency and from the Imperial Bank of India, the management of government accounts and public debt. The Central Office of the Reserve Bank, where the governor sits and where policies are formulated, was initially established in Calcutta but was permanently moved to Mumbai in 1937. The existing currency offices at Calcutta, Bombay, Madras, Rangoon, Karachi, Lahore and Cawnpore (Kanpur) became branches of the Issue Department. Offices of the Banking Department were

neg: Reserve Bank of India, South Zonal Office established in Calcutta, Bombay, Madras, Delhi and Rangoon. Burma (Myanmar) seceded from the Indian Union in 1937 but the Reserve Bank continued to act as the Central Bank for Burma till Japanese Occupation of Burma and later up to April, 1947. After the partition of India, the Reserve Bank served as the central bank of Pakistan up to June 1948 when the State Bank of Pakistan commenced operations. The bank, which was originally a shareholder's bank, was nationalised in 1949 and is fully owned by the Government of India since then. The Central Bank in the city was opened in

neg: Monetary Policy Committee of India benchmark interest rates used to be taken by the Governor of Reserve Bank of India alone prior to the establishment of the committee. The Governor of RBI is appointed and can be disqualified by the Government anytime. 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 Reserve Bank on the stance of monetary policy. However, its role

neg: Raghuram Rajan Singh's request. On 10 August 2012 Rajan was appointed as [[Chief Economic Adviser to the Government of India|chief economic adviser]] to India's [[Ministry of Finance (India)|Ministry of Finance]], succeeding [[Kaushik Basu]] in the role. He prepared the [[Economic Survey of India]] for the year 2012–13. On 6 August 2013 it was announced that Rajan would take over as the [[Governor of the Reserve Bank of India|Governor]] of the [[Reserve Bank of India]] for a term of 3 years, succeeding [[Duvvuri Subbarao]]. On 5 September 2013 he took charge as the [[List of Governors of Reserve Bank of India|23rd governor]], at

neg: State Bank of India the Government of India. The Presidency banks amalgamated on 27 January 1921, and the re-organised banking entity took as its name Imperial Bank of India. The Imperial Bank of India remained a joint stock company but without Government participation. Pursuant to the provisions of the State Bank of India Act of 1955, the Reserve Bank of India, which is India's central bank, acquired a controlling interest in the Imperial Bank of India. On 1 July 1955, the Imperial Bank of India became the State Bank of India. In 2008, the Government of India acquired the Reserve Bank of India's stake

neg: Government Securities Act, 2006 Government Securities Act, 2006 The Government Securities Act, 2006 is a legislation of the Parliament of India, which aims to introduce various improvements in the government securities market and the management of government securities by the Reserve Bank of India (RBI). The Public Debt Act, 1944 was an act of the Parliament of India which provided a legal framework for the issuance and servicing of government securities in India. It was considered outdated, and the Government Securities Act, 2006 was introduced to replace it. The Act oversees government securities and their management by the Reserve Bank of India. The second

neg: Bharatiya Reserve Bank Note Mudran notes in small quantities. Until 1928, Indian currency was printed by De La Rue, a British banknote manufacturing company. The Indian Security Press at Nashik was commissioned by the British Indian Government in the same year and assigned the responsibility of printing Indian currency. BRBNMPL is governed by a board of directors, headed by a non-executive chairman appointed by the RBI. Bharatiya Reserve Bank Note Mudran Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) is a wholly owned subsidiary of Reserve Bank of India which prints bank notes (Indian rupees) for the Reserve Bank of India (RBI). It was established

neg: Reserve Bank of India and since then fully owned by Government of India (GoI). The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the First World War. The Reserve Bank of India was conceptualized based on the guidelines presented by the Central Legislative Assembly which passed these guidelines as the RBI Act 1934. RBI was conceptualized as per the guidelines, working style and outlook presented by Dr. B. R. Ambedkar in his book titled “The Problem of the Rupee – Its origin and its solution” and presented to the Hilton Young Commission. The bank was set

neg: Nainital Bank Nainital Bank The Nainital Bank Limited (NTB) (known as Nainital Bank) (Hindi: नैनीताल बैंक) is a scheduled commercial bank founded in 1922. The bank is a subsidiary of Bank of Baroda. The bank has expanded to Uttar Pradesh and Uttarakhand, and has over 139 branches in Rajasthan, Delhi and Haryana. It has become TTC (Ten Thousand Crore) Company and aims to be most customer centric bank of india, it is listed as a scheduled bank by the Reserve Bank of India. Nainital Bank was founded by Govind Ballabh Pant. In 1975, the government-owned Bank of Baroda (BOB), the second largest

neg: Nepal SBI Bank of India date back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established. In 1921, the Bank of Bengal and two other banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India. In 1955, the Reserve Bank of India acquired the controlling interests of the Imperial Bank of India and SBI was created by an act of Parliament to succeed the Imperial Bank of India. The SBI group, consists of SBl and five associate banks. The group has an extensive network, with over 20000 plus branches in

neg: D. R. Mehta to 1995 Mehta served as the Deputy Governor of the Reserve Bank of India (RBI) which is the Central Bank of India. Still earlier, from 1991 to 1992 he was the Director General of Foreign Trade, Government of India, and Ministry of Commerce. Prior to this from 1989 to 1991, Mehta was Additional Secretary to the Government of India in the Ministry of Finance, dealing with banking. From 1974 to 1989, except for a period of five years in between when he was serving the Ministry of Finance in the Government of India, Mehta had served the State Government of

neg: Reserve Bank of India Mor, Y C Deveshwar, Prof Damodar Acharya, Ajay Tyagi and Anjuly Duggal. Uma Shankar, chief general manager (CGM) in charge of the Reserve Bank of India's financial inclusion and development department has taken over as executive director (ED) in the central bank. Sudha Balakrishnan, a former vice president at National Securities Depository Limited, assumed charge as the first chief financial officer (CFO) of the Reserve Bank on 15 May 2018; she was given the rank of an executive director. The RBI has four zonal offices at Chennai, Delhi, Kolkata and Mumbai. It has 21 regional offices and 11 sub-offices throughout

neg: South African Bank Note Company South African Bank Note Company The South African Bank Note Company (SABN) is a South African security printing company responsible for the printing of the South African Rand. It is a wholly owned subsidiary of the South African Reserve Bank. The South African Bank Note Company was established in 1958 as a result of a decision by the South African Government to print South African currency locally. The South African Reserve Bank formed a joint venture with Bradbury Wilkinson and Company and commenced production from a factory in Pretoria. Bradbury Wilkinson and Company's shareholding was eventually taken over by the

neg: India Post Payments Bank India Post Payments Bank India Post Payments Bank (IPPB) is a Government of India owned payments bank operating under the Department of Posts, Ministry of Communication, which aims to utilize all of India's 155,015 post offices as access points and 300,000 postal service workers to provide house to house banking services. The first phase of the bank with 650 branches and 3250 post offices as access points was inaugurated on 1 September 2018. Over ten thousand postmen have been roped into the first phase. On 19 August 2015 India Post got licence to run a payments bank from Reserve Bank

neg: Primary dealer was Wells Fargo Securities LLC on April 18, 2016. The last previous addition was TD Securities (USA) LLC on February 11, 2014. Name changes of the firms are fairly common as are withdrawals due to mergers; for example, when Merrill Lynch was taken over by Bank of America, the Merrill Lynch name was at first withdrawn but the Bank of America dealer firm was later renamed Merrill Lynch. As of June 13, 2018, according to the Federal Reserve Bank of New York the list includes: Primary dealer A primary dealer is a firm that buys government securities directly from a

neg: Reserve Bank of India country. The Central Office of the RBI was established in Calcutta (now Kolkata) but was moved to Bombay (now Mumbai) in 1937. The RBI also acted as Burma's (now Myanmar) central bank until April 1947 (except during the years of Japanese occupation (1942–45)), even though Burma seceded from the Indian Union in 1937. After the Partition of India in August 1947, the bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations. Though set up as a shareholders’ bank, the RBI has been fully owned by the Government of India since

neg: James Braid Taylor Controller in the Currency Department of the Government of India for over a decade. He later became the Controller of Currency, and additionally secretary in the Finance Department. He then became the Deputy Governor of the Reserve Bank and succeeded Smith as the Governor. He was closely associated with the preparation and piloting of the Reserve Bank of India Bill. He governed the bank during the war years and was involved in decision to move from a silver currency to fiat money. Even though he was the second Governor, his signature was the first to appear on the currency notes

neg: Small Industries Development Bank of India Small Industries Development Bank of India Small Industries Development Bank of India (SIDBI) is a development financial institution in India, headquartered at Lucknow and having its offices all over the country. Its purpose is to provide refinance facilities and short term lending to industries, and serves as the principal financial institution in the Micro, Small and Medium Enterprises (MSME) sector. SIDBI also coordinates the functions of institutions engaged in similar activities. SIDBI operates under the Department of Financial Services, Government of India. SIDBI is one of the four All India Financial Institutions regulated and supervised by the Reserve Bank; other

neg: National Reserve Bank for business in the City Investing Building. Deposits of the National Bank Reserve were about $4,352,561 on January 13, 1914. On January 27, 1914, the National Reserve Bank was taken over by the Mutual Alliance Trust Company, which was based at 35 Wall Street. The two companies had previously been affiliated and had shared directors. At the time of the merge, the "New York Times" wrote that "both institutions have a large number of country bank accounts, chiefly in the West and Southwest, and handle much cotton exchange business." When the National Reserve was liquidated, its stockholders received the value

neg: National Housing Bank Director Reserve Bank of India 5.Shri Pankaj Jain,Joint Secretary to the Government of India, Ministry of Finance, Department of Financial Services 6.Shri Prasant Kumar,Joint Secretary to the Government of India, Rural Housing,Department of Rural Development, Ministry of Rural Development National Housing Bank National Housing Bank (NHB), a wholly owned subsidiary of Reserve Bank of India (RBI), was set up on 9 July 1988 under the National Housing Bank Act, 1987. NHB is an apex financial institution for housing. NHB has been established with an objective to operate as a principal agency to promote housing finance institutions both at local and

neg: India Government Mint of issue (coin date). India Government Mint The India Government Mint operates four mints in the country for the production of coins. This move proposed by PM, is estimated to save 20 billion on currency transportation costs over the next 5 years.The other mints are in: Under The Coinage Act, 1906, the Government of India is charged with the production and supply of coins to the Reserve Bank of India (RBI). The RBI places an annual indent for this purpose and the Government of India draws up the production programme for the India Government Mints on the basis of the

neg: State Bank of Hyderabad Pitti had founded in 1935. (Some accounts give the year of founding as 1946 and that of merger as 1952). In the same year, the Bank started conducting government and Treasury business as agent for the Reserve Bank of India. In 1956, the Reserve Bank of India took over the bank as its first subsidiary and renamed it State Bank of Hyderabad. That same year saw the break-up of Hyderabad State. Aurangabad, Beed, Parbhani, Nanded and Osmanabad merged with Maharashtra state. Gulbarga, Bidar, Raichur, and parts of Osmanabad were merged with Karnataka state. The remaining districts formed part of Andhra

neg: India Government Mint India Government Mint The India Government Mint operates four mints in the country for the production of coins. This move proposed by PM, is estimated to save 20 billion on currency transportation costs over the next 5 years.The other mints are in: Under The Coinage Act, 1906, the Government of India is charged with the production and supply of coins to the Reserve Bank of India (RBI). The RBI places an annual indent for this purpose and the Government of India draws up the production programme for the India Government Mints on the basis of the indent. Besides minting coins,

neg: Banking in India government, the other two were the Bank of Bombay in 1840 and the Bank of Madras in 1843. The three banks were merged in 1921 to form the Imperial Bank of India, which upon India's independence, became the State Bank of India in 1955. For many years the presidency banks had acted as quasi-central banks, as did their successors, until the Reserve Bank of India was established in 1935, under the Reserve Bank of India Act, 1934. In 1960, the State Banks of India was given control of eight state-associated banks under the State Bank of India (Subsidiary Banks) Act,

neg: Urjit Patel resigned from the post of Governor of the Reserve Bank of India (RBI) effective immediately. When the UPA Government in India came into power for a second term in 2009, it announced a '100-day’ action plan, which became a hot topic for media discussion. Surprisingly, Urjit Patel was the expert commentator on UPA's first 100 days on Hindi News Channel, although he had no prior media exposure in India. Urjit Patel Urjit Ravindra Patel (born 28 October 1963) is an Indian economist, who served as the 24th Governor of the Reserve Bank of India (RBI) from 4 September 2016 to

neg: Punjab & Sind Bank Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh established Punjab & Sind Bank. On 15 April 1980 Punjab & Sind Bank was among six banks that the Government of India nationalised in the second wave of nationalisations. (The first wave had been in 1969 when the government nationalised the top 14 banks.) In the 1960s Punjab & Sind Bank established a branch in London. In 1991 Bank of Baroda acquired Punjab & Sind Bank's London branch at the behest of the Reserve Bank of India following Punjab & Sind's involvement in the Sethia fraud in 1987. Since

neg: Great Depression in India at the port of Bombay. This gold intake was transported to the United Kingdom to compensate for the low bullion prices in the country and thereby revitalize the British economy. United Kingdom was overjoyed as its economy recovered with gold and silver from India. The Viceroy, Lord Willingdon remarked The policies of the Government of India during the Great Depression resulted in widespread protests all over the country. As the national struggle intensified, the Government of India conceded some of the economic demands of the nationalists, including the establishment of a central bank. Accordingly, the Reserve Bank of India Act

neg: Reserve Bank of India with adverse balance of payments position. On 8 November 2016, the Government of India announced the demonetisation of all and banknotes of the Mahatma Gandhi Series on the recommendation of the Reserve Bank of India (RBI). The government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism. The Reserve Bank of India laid down a detailed procedure for the exchange of the demonetised banknotes with new ₹500 and ₹2,000 banknotes of the Mahatma Gandhi New Series and ₹100 banknotes of the preceding Mahatma

neg: Economy of South India metric tonnes (MMT) storage, 1.5 MMT would be at Mangalore. According to an International edition of "India Today" (28 November – 4 December 2006), Mangalore is the fastest growing non-metro in South India. Corporation Bank, Canara Bank, and Vijaya Bank were the three nationalised banks established in Mangalore during the first half of the 20th century. Karnataka Bank, founded in Mangalore, was one of the largest banks to have not been taken over by the Government. The "Mangalore Catholic Co-operative Bank (MCC Bank) Ltd". and "SCDCC Bank" were the scheduled banks established in Mangalore. Mangalore city is the one of

neg: Alliance Bank of Simla February 1894), and Bombay (16 February 1903) followed. Alliance Bank opened its Calcutta branch on 15 October 1889 on Council House Street. The firm Martin & Co., founded by Sir Rajendra Nath Mookerjee and Sir Thomas Acquin Martin, built the building, which still exists. After Alliance Bank failed, the Imperial Bank of India took over the building. After the Imperial Bank became the Reserve Bank of India in 1935, the Reserve Bank took over the premises. Alliance was appointed the liquidator of Himalaya Bank (est. 1874), and opened a branch at Mussoorie on 21 August 1891. Next, it was the

neg: National Reserve Bank National Reserve Bank The National Reserve Bank of the City of New York was a bank in New York City that was formed from a merger of Consolidated National Bank and Oriental Bank in 1909. Deposits of the National Bank Reserve Bank were about $4,352,561 on January 13, 1914 and the bank had "a large number of country bank accounts, chiefly in the West and Southwest," handling a large degree of cotton exchange business. On January 27, 1914, the National Reserve Bank was taken over by the Mutual Alliance Trust Company, operating for a time as the Reserve Branch of

neg: Koyambedu 100 idle parking spaces - catering to around 200 buses per day. The South Asian Federation (SAF) Games Village at Koyambedu is a large residential complex with 760 flats. Of these, some flats come under the Government rental scheme and the others belong to individuals and institutions including Indian Oil, the Reserve Bank of India, the Punjab National Bank, Union Bank of India, Annapurna, Food Corporation of India, Canara Bank and the State Bank of India. It was built by the Government of Tamil Nadu to provide accommodation during the 7th South Asian Federation Games (or SAF Games) event held

neg: CBD Belapur as the Thane taluka. CBD Belapur houses several economic and government administrative and private companies' offices (including government offices and banks). Konkan Bhavan building houses several state government offices, like the Director of Town Planning and Public Works Department. The CGO Complex (Central Government Office) has offices of Chief Commissioner of Central Exice, Special Crime Branch, MTNL and Court. Other government offices include Cotton Corporation of India Ltd and the headquarters of Konkan Railway. The Reserve Bank of India, State Bank of India (SBI), Bank of India, Punjab National Bank, Industrial Development Bank of India Limited (IDBI) and other nationalised

neg: Monetary policy of India Monetary policy of India Monetary policy is the process by which monetary authority of a country , generally central bank controls the supply of money in the economy by its control over interest rates in order to maintain price stability and achieve high economic growth. In India, the central monetary authority is the Reserve Bank of India (RBI). It is so designed as to maintain the price stability in the economy. Other objectives of the monetary policy of India, as stated by RBI, are:- The Reserve Bank of India Act, 1934 (RBI Act) was amended by the Finance Act, 2016,

neg: Sailendra Narain Sailendra Narain Dr. Sailendra Narain is a development finance specialist born in Nawadah, Bihar Province, India. For over 40 years, Narain has been a pioneer in developing the global SME sector. His specialities include: designing policy frameworks for SME Growth, establishing SME financing programs in banking and development financial institutions, and capacity building for SMEs with a focus on Entrepreneurship. Narain has extensive experience in the Indian banking sector due to his long work experience at Reserve Bank of India (RBI), Industrial Development Bank of India (IDBI Bank), Small Industries Development Bank of India (SIDBI), and Government of Haryana for

neg: Bharat Overseas Bank Bharat Overseas Bank Bharat Overseas Bank (BOB) was a private bank based in Chennai, India. In 2007 it merged with Indian Overseas Bank, which took over all the bank's employees, assets, and deposits. BOB was established in 1973 order to take over for the Bangkok branch of the Indian Overseas Bank. It was one of the few private banks that the Reserve Bank of India permitted to have a branch outside India, and was the only bank representing India in Thailand. It was owned by seven banks (initial ownership figures in parentheses): Indian Overseas Bank (30%), Bank of Rajasthan (16%),

neg: Indian 10-rupee note Indian 10-rupee note The Indian 10-rupee banknote (10) is a common denomination of the Indian rupee. The 10 note was one of the first notes introduced by the Reserve Bank of India as a part of the Mahatma Gandhi Series in 1996, which is presently in circulation, this is used alongside with 10 rupee coin. The 10-rupee banknote has been issued and had been in circulation since colonial times, and in continuous production since Reserve Bank of India took over the functions of the controller of currency in India in 1923. On 5 January 2018, the Reserve Bank of India

neg: State Bank of Sikkim State Bank of Sikkim State Bank of Sikkim (SBS) is a state owned banking institution headquartered at Gangtok, Sikkim, India. The Bank operates within the jurisdiction of the State of Sikkim and in addition to banking services, State Bank of Sikkim handles treasury functions of State Government of Sikkim. An autonomous body under the Government of Sikkim, it is not regulated by Reserve Bank of India unlike other banks in India. However, the Report of the Comptroller and Auditor General of India for the year ended March 2012 has recorded that the performance of State Bank of Sikkim generated 86

neg: Reserve Bank of India, South Zonal Office 1935 and was operated from a rented premises of the State Bank of India office building located at Parry's Corner. The present building was constructed in the 1960s by Tarapore Company. Zonal Training Centre of RBI Reserve Bank of India, South Zonal Office The Reserve Bank of India in Chennai is one of the four zonal representations of the Reserve Bank of India, the central bank of India, the other three being located in New Delhi, Mumbai, and Kolkata. The central office of the Reserve Bank is located in Mumbai. The Chennai office serves the southern region of the country.

neg: Chakravarty Committee on Monetary Policy (1985) from the government could be met by a) Increasing credit from the Reserve Bank of India to the government and b) Increasing the Statutory Liquidity Ratio that was meant to be maintained by the banks. As a result, the reserves of the government were increasing and this led to an increase in the Money Supply which in turn, resulted in inflationary pressures in the economy. The Reserve Requirement was increased from time to time to counter the effect of this increase in money supply due to the Reserve Bank of India's decision to finance the deficit of the government. These

neg: Reserve Bank of India capital. Bank will be left with no choice but to raise interest rate which will make borrowing costly. This will in turn reduce the overall demand & hence price will come down eventually. Open market operation is the activity of buying and selling of government securities in open market to control the supply of money in banking system. When there is excess supply of money, central bank sells government securities thereby sucking out excess liquidity. Similarly, when liquidity is tight, RBI will buy government securities and thereby inject money supply into the economy. This scheme was introduced in May, 2011

neg: Reserve Bank of India 2018–19). The bank rate is not used to control money supply these days. Although penal rates are linked to bank rate. If a bank fails to keep SLR or CRR then RBI will impose penalty & it will be 300 basis points above bank rate. Liquidity Adjustment facility was introduced in 2000. LAF is a facility provided by the Reserve Bank of India to scheduled commercial banks to avail of liquidity in case of need or to park excess funds with the RBI on an overnight basis against the collateral of Government securities. RBI accept application for a minimum amount

neg: Saraswat Bank also taken several Strategic Business Initiatives such as undertaking Business Process Reengineering initiative, merging seven cooperative banks and then consciously nurturing them. The bank tied up with VISA International for issuance of debit cards. The bank has also successfully launched the RuPay EMV debit card in 2013-14. The bank was the first to achieve this milestone in respect of RuPay EMV card along with the Bank of Baroda. In 2011, the bank was granted permission for All India Area of Operation by Reserve Bank of India. The bank has an ambitious business expansion plan in place to have a presence

neg: IDBI Bank The Industrial Development Bank of India (IDBI) was established in 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bank of India. In 1976, the ownership of IDBI was transferred to the Government of India and it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in India. IDBI provided financial assistance, both in rupee and foreign currencies, for green-field projects and also for expansion, modernisation and diversification purposes. In the wake of financial sector reforms unveiled by the government since 1992, IDBI also provided

neg: Government of India Act 1935 portion of the Act, the Federal portion was to go into effect only when half the States by weight agreed to federate. This never happened and the establishment of the Federation was indefinitely postponed after the outbreak of the Second World War. The Act provided for Dyarchy at the Centre. The British Government, in the person of the Secretary of State for India, through the Governor-General of India – Viceroy of India, would continue to control India’s financial obligations, defence, foreign affairs and the British Indian Army and would make the key appointments to the Reserve Bank of India (exchange

neg: State Bank of Sikkim Sikkim on 8th September, 2018. State Bank of Sikkim State Bank of Sikkim (SBS) is a state owned banking institution headquartered at Gangtok, Sikkim, India. The Bank operates within the jurisdiction of the State of Sikkim and in addition to banking services, State Bank of Sikkim handles treasury functions of State Government of Sikkim. An autonomous body under the Government of Sikkim, it is not regulated by Reserve Bank of India unlike other banks in India. However, the Report of the Comptroller and Auditor General of India for the year ended March 2012 has recorded that the performance of State

neg: Jammu & Kashmir Bank country. The bank was established as a semi-State Bank with participation in capital by State and the public under the control of State Government. In year 1971, the bank had acquired the status of a scheduled bank and was declared as an "A" Class bank by the Reserve Bank of India in 1976. The bank had to face serious problems at the time of independence when out of its total of ten branches two branches of Muzaffarabad, Rawalakot and Mirpur fell to the other side of the line of control (now Pakistan administered Kashmir) along with cash and other assets.

neg: Operation Red Spider the public domain on 14 March 2013. According to Rajiv Takru, Secretary of Financial Services, Government of India, all Indian government agencies and regulators worked together to probe charges. On 14 March 2013 Reserve Bank of India conducted an inquiry into possible violation of its KYC (Know Your Customer) and AML (anti-money laundering) guidelines by ICICI Bank, HDFC Bank and Axis Bank. Following the enquiry, penalty of Rs 5 crore on Axis Bank, Rs 4.5 crore on HDFC Bank and Rs 1 crore on ICICI Bank was imposed by RBI. On 15 March 2013 ICICI Bank suspended 18 employees. On

neg: A K Bera Institute of Banking and Finance. Bera joined Reserve Bank of India in 1978. He worked in various areas including public debt management, government & bank accounts and cooperative banking. His career took off when as an administrator, he took over as Officer in Charge of RBI Belapur in 2005. He was elevated to the position of Chief General Manager in 2006. Subsequently, he served as Regional Director of Gujarat State from 2009 to 2011, before being appointed as Chief General Manager of RBI in DGBA. As the Chief General Manager, he was signatory to three consecutive balance sheets of RBI

neg: House of Habib holds an important place in Pakistan's early history. Habib Bank was shifted to Pakistan on the personal request of its first Governor General Mohammad Ali Jinnah. Mohammad Ali Habib came to the aid of the nascent state "even before the Government of Pakistan was ready to issue appropriate government paper" with a Rs 80 million loan when the Reserve Bank of India failed to deliver Pakistan share of Rs 900 million held by it. It is said that Mohammad Ali Habib gave a blank cheque on Lloyds Bank to Governor General Jinnah who wrote Rs 80 million in it. The

neg: Reserve Bank of India still they perform activities and functions with the goal of maintaining economic stability and growth of an economy. The bank is also active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion (AFI). The bank is often referred to by the name Mint Street. RBI is also known as banker's bank. The preamble of the Reserve Bank of India describes the basic functions of the reserve bank as: The Reserve Bank of India was established following the Reserve Bank of India Act of 1934. Though privately owned initially, it was nationalised in 1949

neg: State Bank of Mysore State Bank of Mysore State Bank of Mysore was a Public Sector bank in India, with headquarters at Bengaluru. It was one of the five associate banks of State Bank of India. State Bank of Mysore was established in the year 1913 as The Bank of Mysore Ltd. under the patronage of Maharaja Krishna Raja Wadiyar IV, at the instance of the banking committee headed by the great Engineer-Statesman, Bharat Ratna Sir M.Visvesvaraya. During 1953, "Mysore Bank" was appointed as an agent of Reserve Bank of India to undertake Government business and treasury operations, and in March 1960, it became

neg: Indian rupee of India. Coins are minted at the five India Government Mints at Mumbai, Alipore (Kolkata), Saifabad (Hyderabad), Cherlapally (Hyderabad) and NOIDA (UP). The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act. After independence, the Government of India mint, minted coins imprinted with Indian statesmen, historical and religious figures. In the years 2010 and 2011 for the first time ever 75, 150 and 1000 coins were minted in India to commemorate the Platinum Jubilee of the Reserve Bank of India, the 150th birth anniversary of the birth of Rabindranath Tagore and 1000 years

neg: Banking in Austria Banking in Austria The Oesterreichische Nationalbank, Austria's central bank, was founded in 1816. After being taken over by the German Reichsbank in 1938, it was re-established on July 3, 1945. The bank is a corporation with capital shares fixed by law at $150 million; 100% of the shares are, by law, held by the Austrian government. The central bank and the bank of issue, it preserves the domestic purchasing power of the Austrian currency and its value in terms of stable foreign currencies, and controls external transactions affecting the balance of payments. It also sets reserve requirements for credit institutions.

neg: Reserve Bank of India report titled "Trend and Progress of Banking In India" is published annually, as required by the "Banking Regulation Act, 1949". The report sums up trends and developments throughout the financial sector. Starting in April 2014, the Reserve Bank of India publishes bi-monthly policy updates. Reserve Bank of India The Reserve Bank of India (RBI) is India's central banking institution, which controls the issuance and supply of the Indian rupee. Until the Monetary Policy Committee was established in 2016, it also controlled monetary policy in India. It commenced its operations on 1 April 1935 in accordance with the "Reserve Bank of

neg: All India Financial Institutions and savings involved. In Post-Independence India, people were encouraged to increase savings, a tactic intended to provide funds for investment by the Indian government. However, there was a huge gap between the supply of savings and demand for the investment opportunities in the country. According to Economic Survey 2012-13, at the end of March 2012, there were four institutions regulated by Reserve Bank of India as all-India Financial Institutions: IDBI is no longer an AIFI and has been converted into a universal bank by the Government of India. The IDBI was established to provide credit for major financial facilities to

neg: Bimal Jalan from 1998-2008, Jalan was the President of the Governing Body of the National Council of Applied Economic Research, Planning Commission in New Delhi. He was the Governor of Reserve Bank of India for two terms. The Government of India reappointed Jalan as Governor of the Reserve Bank of India, first for a period of two years commencing 22 November 2000 to 21 November 2002 and again for a further period of two years commencing from 22 November 2002 and ending 21 November 2004. He was succeeded by Y. Venugopal Reddy on 6 September 2003. During his tenure the Indian Rupee

neg: Monetary Policy Committee of India Monetary Policy Committee of India The Monetary Policy Committee of India is responsible for fixing the benchmark interest rate in India. The meetings of the Monetary Policy Committee are held at least 4 times a year and it publishes its decisions after each such meeting. The committee comprises six members - three officials of the Reserve Bank of India and three external members nominated by the Government of India. They need to observe a "silent period" seven days before and after the rate decision for "utmost confidentiality". The Governor of Reserve Bank of India is the chairperson ex officio of

neg: Statutory liquidity ratio Statutory liquidity ratio Statutory liquidity ratio (SLR) is the Indian government term for the reserve requirement that the commercial banks in India are required to maintain in the form of cash, gold reserves, government approved securities before providing credit to the customers. Statutory liquidity ratio is determined by Reserve Bank of India maintained by banks in order to control the expansion of bank credit. The SLR is determined by a percentage of total demand and time liabilities. Time liabilities refer to the liabilities which the commercial banks are liable to pay to the customers after a certain period mutually agreed

neg: Reserve Bank of India the national bank system, it was initialized on 7 December 1961. The Indian government founded funds to promote the economy, and used the slogan "Developing Banking". The government of India restructured the national bank market and nationalized a lot of institutes. As a result, the RBI had to play the central part in controlling and supporting this public banking sector. In 1969, the Indira Gandhi-headed government nationalized 14 major commercial banks. Upon Indira Gandhi's return to power in 1980, a further six banks were nationalized. The regulation of the economy and especially the financial sector was reinforced by the Government

neg: Statutory liquidity ratio one months time due to maturity) of a bank. SLR rate = (liquid assets / (demand + time liabilities)) × 100% This percentage is fixed by the Reserve Bank of India. The maximum limit for the SLR was 40% in India. Following the amendment of the Banking regulation Act (1949) in January 2017, the floor rate of 20.75% for SLR was removed. Presently, the SLR is 19.5%. Statutory liquidity ratio Statutory liquidity ratio (SLR) is the Indian government term for the reserve requirement that the commercial banks in India are required to maintain in the form of cash, gold reserves,

neg: Foreign exchange reserves of India government bonds and institutional bonds. with nearly 5% of forex reserves in gold. India is, coincidentally the world's largest gold consuming nation. The FCAs also include investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks. India is at 9th position (september 2018 ) in List of countries by foreign-exchange reserves , just below Republic of China (Taiwan) and Russia. Reserve Bank of India Act and the Foreign Exchange Management Act, 1999 set the legal provisions for governing the foreign exchange reserves. Reserve Bank of India accumulates foreign currency reserves by purchasing

neg: 2008–09 Belgian financial crisis the Icelandic Kaupthing Bank whose money was locked up for months following the crisis in Iceland. They belonged to the subsidiary Kaupthing Bank Luxembourg. Which was finally taken over by "Blackfish Capital" the Belgian accounts were taken over by Crelan. Which later also took over "Centea" part of the activities KBC had to shed from the European Commission as compensation for the government support. When in late 2011 the interest rates on Belgian government bonds rose to irrational heights the government asked for support from the population and promoted the "staatsbon". The "staatsbon" is a government bond that can be

neg: History of the rupee paper currency was entrusted to the Mint Masters, the Accountant Generals and the Controller of Currency. The Reserve Bank of India was formally inaugurated on Monday, 1 April 1935 with its Central Office at Calcutta. Section 22 of the RBI Act, 1934, empowered it to continue issuing Government of India notes until its own notes were ready for issue. The bank issued the first five rupee note bearing the portrait of George VI in 1938. This was followed by Rs. 10 in February, Rs 100 in March and Rs 1,000 and Rs 10,000 in June 1938. The first Reserve Bank

neg: Reserve Bank of India US dollar, and the "Narsimham Committee" advised restructuring the financial sector by a temporal reduced reserve ratio as well as the statutory liquidity ratio. New guidelines were published in 1993 to establish a private banking sector. This turning point was meant to reinforce the market and was often called neo-liberal. The central bank deregulated bank interests and some sectors of the financial market like the trust and property markets. This first phase was a success and the central government forced a diversity liberalisation to diversify owner structures in 1998. The National Stock Exchange of India took the trade on in

neg: Bank of Baroda in transactions on accounts owned by the Gupta family. Following the flagging of 36 suspicious transactions through Gupta family owned accounts over a ten-month period valued at 4.2 billion the bank tried to close the accounts. The Gupta family has filed an interdict against the bank to prevent it from closing their accounts. During February 2018, it was announced that the Bank of Baroda has given notification to the South African Reserve Bank that it will be exiting the country. On 17 September 2018, The Finance Ministry of the Government of India proposed to merge the three three state run

neg: Foreign Exchange Management Act The bill was formulated with the aim of regulating payments and foreign exchange. FERA came into force with effect from January 1, 1974. FERA was introduced at a time when foreign exchange (Forex) reserves of the country were low, Forex being a scarce commodity. FERA therefore proceeded on the presumption that all foreign exchange earned by Indian residents rightfully belonged to the Government of India and had to be collected and surrendered to the Reserve Bank of India (RBI). FERA primarily prohibited all transactions not permitted by RBI. Coca-Cola was India's leading soft drink until 1977 when it left India

neg: Shaktikanta Das simultaneously superannuated from service on 28May2017, after being given a three-monthextension by the government. During his tenure as Union Economic Affairs Secretary, Das was widely regarded as one of the most powerful civil servants in India. Post his retirement from the IAS, Das was appointed a member of the FifteenthFinance Commission by the ACC. In addition, he was appointed as India's Sherpa to the G20 by the ACC. In December2018, on his appointment as the governor of the Reserve Bank of India, Das resigned from his position in the FifteenthFinance Commission. Das was appointed Governor of the Reserve Bank of

neg: Reserve Bank of India of 2008–2009 and the central bank promotes the economic development. In 2016, the Government of India amended the RBI Act to establish the Monetary Policy Committee (MPC) to set . This limited the role of the RBI in setting interest rates, as the MPC membership is evenly divided between members of the RBI (including the RBI governor) and independent members appointed by the government. However, in the event of a tied vote, the vote of the RBI governor is decisive. The central board of directors is the main committee of the central bank. The Government of India appoints the directors

neg: The Revised Standard Reference Guide to Indian Paper Money in its second edition—the first was authored by Jhunjhunwalla, whose collection was later purchased by Razack. The revised edition was published after 10 years of research. The book was introduced to the public by Uma Shankar, Regional Director of the Reserve Bank of India on January 13, 2012. The Revised Standard Reference Guide to Indian Paper Money’’ includes high resolution colour images of notes from Semi-Government and Presidency Banks, which functioned until 1861. The Government of India (British Raj) then undertook the issue of banknotes in 1861, and that is when all Early, Private, and Presidency Banks’ currency issues ceased.

neg: Reserve Bank of Australia government and so in the Reserve Bank Board's opinion that its powers are used to help with: In practice the Reserve Bank concentrates on the first objective, that is to control inflation through monetary policy. The current objective is a policy of inflation targeting aimed at maintaining the annual inflation rate at between "2–3 per cent, on average, over the cycle". This target was first set in 1993 by the then Reserve Bank Governor Bernie Fraser and was then formalised in 1996 by the then Treasurer Peter Costello and incoming Reserve Bank Governor Ian Mcfarlane. The Reserve Bank gives banking

neg: Securities and Exchange Board of India Government of India through an amendment to the Securities and Exchange Board of India Act, 1992. In April 1988 the SEBI was constituted as the regulator of capital markets in India under a resolution of the Government of India. The SEBI is managed by its members, which consists of following: The chairman who is nominated by Union Government of India.Two members, i.e., Officers from Union Finance Ministry. One member from the Reserve Bank of India. The remaining five members are nominated by Union Government of India, out of them at least three shall be whole-time members. After amendment of 1999,

neg: Government Securities Act, 2006 clause of Section 2 defines government securities as a securities issued by the central or a state government for the purpose of raising a public loan. Government Securities Act, 2006 The Government Securities Act, 2006 is a legislation of the Parliament of India, which aims to introduce various improvements in the government securities market and the management of government securities by the Reserve Bank of India (RBI). The Public Debt Act, 1944 was an act of the Parliament of India which provided a legal framework for the issuance and servicing of government securities in India. It was considered outdated, and

neg: Reserve Bank of India also a banker to the government and performs merchant banking function for the central and the state governments. It also acts as their banker. The National Housing Bank (NHB) was established in 1988 to promote private real estate acquisition. The institution maintains banking accounts of all scheduled banks, too. RBI on 7 August 2012 said that Indian banking system is resilient enough to face the stress caused by the drought-like situation because of poor monsoon this year. The Reserve Bank has custody of the country's reserves of international currency, and this enables the Reserve Bank to deal with crisis connected

neg: Palai Central Bank Palai Central Bank Palai Central Bank was a commercial bank headquartered in Kerala, South India that functioned during the middle of last century. Although it was started in a small remote town, the bank grew up to become not only the biggest bank but the biggest institution in Kerala, after the state government, and the 17th largest among the 94 scheduled banks in India. The Kerala High Court in 1960 ordered the liquidation of Palai Central Bank on a petition from the Reserve Bank of India. From the time of its founding in 1927, Palai Central Bank had an eventful

neg: Reserve Bank of India, South Zonal Office Glacis on Rajaji Salai. The Chennai office also represents the local board for the southern region of India headed by a director and is also one of the four zonal training centres of the bank. The Reserve Bank Staff College is located at Anna Salai, Teynampet, which is one of the two colleges of the bank, the other one located in Pune. The Reserve Bank of India was established on the basis of the recommendations of the Hilton Young Commission. The bank commenced operations on 1 April 1935. The bank was established in accordance with the provisions of the Reserve

neg: India Government Mint, Mumbai India Government Mint, Mumbai The India Government Mint, Mumbai is one of the four mints in India and is in the city of Mumbai. The mint was established in 1829 by the then governor of the Bombay Presidency. Its main activity is the production of commemorative and development-oriented coins. The mint is opposite the Reserve Bank of India in the Fort area of South Mumbai. Initially governed by the governor of the Bombay Presidency, it was transferred to the Government of India on 18 May 1876 through Finance Department Resolution 247. In 1918, a branch of the Royal Mint of

neg: Reserve Bank of India as overseeing monetary policy, issuing currency, managing foreign exchange, working as a bank for government and as a banker of scheduled commercial banks. It also works for overall economic growth of the country. The preamble of the Reserve Bank of India describes its main functions as:..to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage. The primary objective of RBI is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and

neg: Venezuelan banking crisis of 2009–10 Earlier in the year the government had already been forced to take over Stanford Bank Venezuela, as well as encountering a corruption crisis at the state-owned Banco Industrial de Venezuela which saw the latter's ex-president arrested on corruption charges. In June 2010 Banco Federal, the country's 11th-largest bank, with deposits of 7.66 billion bolivars, or 2.82 percent of total deposits in the banking system, was taken over by Venezuela's banking regulator, after it had failed to meet minimum reserve requirements and investment quotas. It had been told to expand its capital base by 1.5bn bolivars (around $350m), and had only

neg: Nath Bank Reserve Bank of India. Even that failed to resolve the crisis and the bank was finally liquidated in 1950. The failure of the Nath Bank created a panic among investors. Nath Bank The Nath Bank () was an Indian-owned bank founded by Kshetra Nath Dalal in 1926 in Noakhali, now in Bangladesh but then in undivided India. By 1947 when the Partition of India was imminent, Nath Bank had its head office and three branches in Noakhali district, as well as a branch in Comilla in Tipperah District. Noakhali and Tipperah districts were to become a part of Pakistan, so

neg: Kolkata banks: Allahabad Bank, UCO Bank, and the United Bank of India and India's one of the newest private bank Bandhan Bank Reserve Bank of India has its eastern zonal office in Kolkata and India Government Mint, Kolkata is one of the four mints in India. The demonym for residents of Kolkata are "Calcuttan" and "Kolkatan". According to provisional results of the 2011 national census, Kolkata district, which occupies an area of , had a population of 4,486,679; its population density was . This represents a decline of 1.88% during the decade 2001–11. The sex ratio is 899 females per 1000

neg: C. D. Deshmukh Berar where he went on to hold several posts including as undersecretary to the government, Deputy Commissioner and Settlement Officer and as secretary to the Secretary-General at the Second Round Table Conference of 1931, later becoming secretary to the finance and public works department. He also served briefly as Joint Secretary to Government of India in the departments of education and health and was Custodian of Enemy Property. Deshmukh joined the Reserve Bank of India in 1939 and served successively as its Secretary to the Board, Deputy Governor and the Governor. He was appointed Governor of the Reserve Bank of

neg: NBFC & MFI in India resort to intimidation or harassment of any kind. All NBFCs’ have been directed to set up a grievance redressal machinery, which will also deal with the issues relating to services provided by the outsourced agency. The Reserve Bank of India Act, 1934 amended on 1 December 1964 by Reserve Bank Amendment Act, 1963. In this new 'Chapter III-B' introduced to Regulate 'Deposit Accepting' NBFCs. Different types of Committees to Review existing framework of NBFCs In early 1970s Government of India asked Banking Commission to Study the Functioning of Chit Funds and Examining activities of Non-Banking Financial Intermediaries. In 1972, Banking

neg: HSBC Bank India HSBC Bank India HSBC Bank India, is an Indian subsidiary of UK-based HSBC Holdings plc, is a bank with its operational head office in Mumbai. It is a foreign bank under the Banking Regulation Act, 1949 and thus is regulated by the Reserve Bank of India (RBI). HSBC Technology India (HTI), previously called HSBC Global Technology (GLT), is part of HSBC Technology, the Bank's technology function. HTI is located in Pune, India, and Hyderabad, India, with the former being the headquarters. HSBC Technology India has been in existence for over 15 years, and currently supports majority of the software products

neg: Manappuram General Finance and Leasing qualification in Banking. He has got over 38 years of experience in Banking including Directorships in the South Indian Bank Ltd and the Federal Bank Ltd. He retired as the General Manager, Reserve Bank of India, Department of Banking Supervision, Trivandrum. On 7 February 2012, the Reserve Bank of India (RBI) has issued a warning to the general public against placing deposits with Manappuram Finance or a group company. The central bank has said that acceptance of deposits either by Manappuram Finance or by Manappuram Agro Farms (MAGRO ) is punishable with imprisonment. Shares of the company plunged 20% following

neg: BRICS the US$100 billion New Development Bank (formerly known as the "BRICS Development Bank") and a reserve currency pool worth over another US$100 billion. Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also inked. At the end of October 2014, Brazil trimmed down its US government holdings to US$261.7 billion; India, US$77.5 billion; China, US$1.25 trillion; South Africa, US$10.3 billion. In March 2015, Morgan Stanley stated that India and Indonesia had escaped from the 'fragile five' (the five major emerging markets with the most fragile currencies) by instituting economic reforms. Previously, in August

neg: Reserve Bank of India Act, 1934 anyone. The Section 42(1) says that every scheduled bank must have an average daily balance with the RBI. The amount of the deposit shall be more that a certain percentage of its net time and demand liabilities in India. Reserve Bank of India Act, 1934 Reserve Bank of India Act, 1934 is the legislative act under which the Reserve Bank of India was formed. This act along with the Companies Act, which was amended in 1936, were meant to provide a framework for the supervision of banking firms in India. The Act contains the definition of the so-called scheduled banks,

neg: Madhavpura Mercantile Cooperative Bank - and losses were . After the reconstruction scheme expired on 23 August 2011 and after seeing no major improvement in the bank's performance the RBI advised the Government of India on 26 December to liquidate the bank. On 4 January 2012 the Central Task Force for Cooperative Urban Banks also gave the same advice to the Government of India. The Reserve bank issued a showcause notice to the bank on 16 March 2012 asking why it banking licence should not be cancelled. The cooperative bank replied that the main reason for the failure of the restructuring scheme was the

neg: Ben Stein were taken over by the US government, AIG was bailed out by the Federal Reserve, Merrill Lynch was sold to Bank of America Corporation, and Morgan Stanley and Goldman Sachs confirmed that they would become traditional bank holding companies. In a Yahoo! Finance article written on October 17, 2008, Stein explained that his understanding of the debt obligations based on real estate loans was less than the "staggeringly large" amount of obligations that were created through trade in derivatives of those, and so why it wasn't as similar to collapse of junk bond empire in early 1990s as he'd thought

neg: Central bank be owed to the fact that its establishment occurred when the Kingdoms of England, Scotland and Ireland were separate entities (at least in name), and therefore pre-dates the merger of the Kingdoms of England and Scotland, the Kingdom of Ireland's absorption into the Union and the formation of the present day United Kingdom), Bank of Canada, Bank of Mexico, Bank of Thailand. The word "Reserve" is also often included, such as the Reserve Bank of India, Reserve Bank of Australia, Reserve Bank of New Zealand, the South African Reserve Bank, and Federal Reserve System. Other central banks are known as

neg: Bharatiya Reserve Bank Note Mudran Bharatiya Reserve Bank Note Mudran Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) is a wholly owned subsidiary of Reserve Bank of India which prints bank notes (Indian rupees) for the Reserve Bank of India (RBI). It was established in 1995 to address the demand of bank notes. The company operates in Indian and global markets, catering to security document needs of Central banks and monetary authorities of the world by designing, printing and supplying banknotes. BRBNMPL supplies a major portion of bank note requirement in the country with the remaining requirements met through Security Printing and Minting Corporation of

neg: Carmichael Road Khanderao Gaekwar, and later by the Wagles and Lalvanis families, sold for , also in same year, an apartment in the Kamal Mahal building fetched . The street has official residences of the Governor of Reserve Bank of India, Chairman of the Mumbai Port Trust and the Municipal Commissioner of Mumbai, besides consulates of Japan, China and Belgium. Some of the notable residents have been [Dr. Manmohan Singh, former Prime Minister of India, when he was the Governor of Reserve Bank of India], Ashok Kumar Jain, Chairman, Bennet & Colemann, The Times of India group, Andrew Geddis, industrialist, Kumar Mangalam

neg: Chakravarty Committee on Monetary Policy (1985) equation into actual practice. It suggested from its own side what the target "r" the Reserve Bank of India should aim at for a particular administered "i". It would also estimate the appropriate P ; short term or long term as required. Using these values will give the appropriate value of "i". The Government of India borrows funds through Treasury Bills and marketable debt of medium and long term maturities. Of these, more than 90% of the T Bills and more than 30% of dated securities were held by the Reserve Bank of India. Since the RBI has been the

neg: National Institute of Bank Management National Institute of Bank Management National Institute of Bank Management (NIBM) is an Indian institution for research, training and consultancy in banking and finance. It is located in Pune. The campus is self-contained, with residential and educational facilities. NIBM was established in 1969 by the Reserve Bank of India in consultation with the Government of India as an autonomous "think-tank" for the Indian banking system. It is intended to further the government's objective of developing the banking industry in India, making the industry more cost-effective, and thus better equipped to aid national development. The institute focuses on helping managers in

neg: Ramesh Gelli Padmashri and Udyog Ratan by the Government of India in 1990, becoming the first banking executive to have received the honour. Ramesh Gelli Ramesh Gelli is an Indian banking executive who served as the Chairman and Managing Director (CMD) of Vysya Bank and was a promoter and CMD of Global Trust Bank. Gelli set up GTB in 1993 along with Jayant Madhab, a top official of the Asian Development Bank. In 2001, Gelli was removed from his position of CMD of GTB and later from its board by India's banking regulator, the Reserve Bank of India (RBI) following a failed