WHAT IS RESERVE BANK OF INDIA (RBI)
Reserve Bank Of India
The Reserve Bank of India (RBI) is the central bank of India whose primary function is to manage and govern the financial system of the country. It is a statutory body established in the year 1935 under the Reserve Bank of India Act, 1934. The central bank regulates the issue and supply of the Indian rupee. It also looks after the central government’s money. The central bank plays the role of the bankers’ bank and regulates the banking sector. It also plays an important role in India’s development story by supporting the government in its developmental projects and policies.
The head office of the RBI, in Kolkata when the bank was established, was shifted to Mumbai in 1937. Originally, the bank was privately owned. However, after Independence, it was nationalised in 1949 and is now fully owned by the Government of India.
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RBI NEWS
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Banking sector remains resilient amid Adani Group's stock rout, says RBI
SBI's Rs 27,000-crore loans to Adani backed by assets, cash flow, says chairman| February 03, 2023, Friday -
RBI asks banks to share information on exposure to Adani Group companies
Indian lenders have around Rs 80,000 cr exposure in conglomerate, marking 38% of the conglomerate's total debt| February 02, 2023, Thursday -
Projects worth Rs 19,000 cr to get grants under Sovereign Green Fund
Centre looks to raise Rs 16,000 cr this fiscal via green bonds. The Budget, however, does not say whether or not bond issuance ...| February 01, 2023, Wednesday -
RBI appoints V Ramachandra as member of Advisory Committee of SIFL, SEFL
The Reserve Bank on Tuesday appointed V Ramachandra, former chief general manager of Canara Bank, as a member of the Advisory ...| January 31, 2023, Tuesday -
Reserve Bank partially relaxes restrictions on SBM Bank up to March 15
Last week, the central bank had asked SBM to stop all transactions under the liberalised remittance scheme (LRS) until further ...| January 31, 2023, Tuesday -
Reserve Bank of India to conduct auction of 10-year govt bond on Friday
The government will sell a notified amount of Rs 28,000 crore worth of three securities on Friday| January 30, 2023, Monday -
FY24 borrowings seen at new high, but insurers, softer RBI to help bonds
Sovereign yield curve seen steeper; short-term bonds may gain on likely RBI pivot| January 30, 2023, Monday -
The case for baby RBIs
Despite its admirable competence and proven track record, the Reserve Bank of India doesn't have the capacity to supervise an ...| January 27, 2023, Friday -
Exposure to Adani group well below limit, says State Bank of India
Lender says all exposures secured by cash generating assets, and debt service will not be a challenge| January 27, 2023, Friday -
Digital currency to further bolster digital economy, says RBI's Ajay Kumar
Digital currency will further bolster the digital economy, make payment system more efficient, reduce cost involved in physical ...| January 25, 2023, Wednesday
