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Reserve Bank of India

 

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The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The head office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The head office is where the Governor sits and where policies are formulated. Though originally privately owned, since nationalization in 1949, the Reserve Bank is fully owned by the Government of India.

 
 

The Reserve Bank's affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act.

The main functions of the Reserve Bank include:-

    Formulated monetary policy;
    Management of foreign exchange reserves;
    Banker to banks;

    Regulation of money, forex and government securities markets as also certain financial derivatives;
    Debt and cash management for Central and State Governments;
    Foreign exchange management for current and capital account management;
    Banker to the Central and State Governments;
    Oversight of the payment and settlement systems;
    Currency management;
    Research and statistics; and
    Regulation and supervision of the banking and non-banking financial institutions, including credit information companies.

The policy Statements of the Governor, Reserve Bank of India provide a framework for the monetary, structural and prudential measures that are taken from time to time against the background of an assessment of macroeconomic and monetary developments.
 

Reserve Bank of India HQ Location Map

Reserve Bank of India
HQ Address: Central Office Building
18th Floor,
Shahid Bhagat Singh Rd
Mumbai 400 001
India
Telephone: +91 22 660868
Facsimile: +91 22 661784
Website: www.rbi.org.in
Swift Code: RBISINBB
Banking Hours:
Monday - Friday 9.00am - 5.00pm
 

 

The annual report of the Reserve Bank is the most important document released every year in late August. It is the statement of the Board of Directors on the state of the economy, the working of the Reserve Bank and on the balance sheet of the Reserve Bank. It also presents an assessment and prospects of the Indian economy.
 
 
Nationalised Banks governed by Reserve Bank of India:
Allahabad Bank Andhra Bank Bank of Baroda
Bank of India Bank of Maharashtra Canara Bank
Central Bank of India Corporation Bank Dena Bank
Indian Bank Indian Overseas Bank Oriental Bank of Commerce
Punjab National Bank

Punjab & Sind Bank Syndicate Bank
UCO Bank Union Bank of India United Bank of India
Vijaya Bank State Bank of India

Private Banks governed by Reserve Bank of India:

Bank of Rajasthan Ltd Bharat Overseas Bank Catholic Syrian Bank Ltd
Federal Bank Ltd Dhanlaxmi Bank Ltd Jammu & Kashmir Bank Ltd
Karnataka Bank Ltd Karur Vysya Bank Ltd City Union Bank Ltd
Lakshmi Vilas Bank Ltd Nainital Bank Ltd Ratnakar Bank Ltd
South Indian Bank Ltd Tamilnad Mercantile Bank Ltd ING Vysya Bank Ltd
ICICI Bank Limited Axis Bank Ltd IndusInd Bank Ltd
Yes Bank Ltd Kotak Mahindra Bank Ltd HDFC Bank Ltd
Development Credit Bank Ltd SBI Commercial International Bank Ltd

Private Foreign Banks governed by Reserve Bank of India:

The Royal Bank of Scotland Abu Dhabi Commercial Bank Ltd American Express Bank Ltd
Bank of America N.A Bank of Bahrain & Kuwait BSC Mashreq Bank
Bank of Nova Scotia Bank of Tokyo Mitsubishi UFJ Ltd Citibank N.A
Deutsche Bank HSBC Bank Societe Generale
Sonali Bank BNP Paribas Barclays Bank plc
DBS Bank Ltd Bank Internasional Indonesia Arab Bangladesh Bank Ltd
Standard Chartered Bank State Bank of Mauritius Ltd Bank of Ceylon
Cho Hung Bank Chinatrust Commercial Bank Ltd Krung Thai Bank plc
Antwerp Diamond Bank N.V. J P Morgan Chase Bank Mizuho Corporate Bank Ltd
Oman International Bank SAOG Credit Agricole Corporate and Investment Bank

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