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.

RBI NEWS

RBI modifies norms for undertaking govt business by private banks
The Reserve Bank on Monday came out with modified guidelines that allow sound private sector banks to undertake government ...| May 10, 2021, Monday
Jose Kattoor named RBI Executive Director with effect from May 4
In charge of Human Resource Mgt Dept, Corporate Strategy and Budget Dept and Rajbhasha| May 10, 2021, Monday
Plea filed with SC seeking moratorium of 6 months on repayment of bank dues
It is not clear yet if the plea has been admitted by the Court, and if so, what further action the RBI could take| May 10, 2021, Monday
Relief to only postpone financial stress from India's Covid surge: Fitch
There are growing indications that India's latest wave of Covid-19 infections will add to risks among financial institutions by ...| May 10, 2021, Monday
RBI recent measures to boost healthcare infrastructure, says ICRA
Availability of funds due to recent measures announced by the Reserve Bank of India (RBI) can result in increased capacities:| May 08, 2021, Saturday
Forex reserves surge by $3.91 billion to $588.02 billion: RBI data
The country's foreign exchange reserves swelled by $3.913 billion to reach $588.02 billion in the week ended April 30, 2021, RBI ...| May 07, 2021, Friday
RBI sets up an advisory group to assist regulatory review authority
Regulatory Review Authority (RRA 2.0) was constituted by the central bank earlier this month to streamline regulations and reduce ...| May 07, 2021, Friday
Covid-19 loans: Banks using their own resources to get the benefit
Earlier, option of earning 40 bps extra was for banks using RBI's Rs 50,000-cr window| May 07, 2021, Friday
Banks want RBI to relax NPA norms for lockdown-stressed MSME sector
Bankers request extension of NPA classification norms to 180 days from 90 days currently| May 07, 2021, Friday
Best of BS Opinion: RBI's rescue act, steady start for 5G, and more
Here are the best of Business Standard's opinion pieces for Thursday| May 06, 2021, Thursday