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

RuPay's market share tops 60% in total cards issued, says RBI report
As of November 2020, around 603.6-million RuPay cards have been issued by nearly 1,158 banks| January 28, 2021, Thursday
RBI's NBFC paper silent on liquidity management, says India Ratings
The paper has not said whether the cash reserve ratio (CRR) and statutory liquidity ratio (SLR) will be applicable to upper ...| January 26, 2021, Tuesday
RBI proposals to restrict land financing by NBFCs: India Ratings Report
The Reserve Bank's proposals on restricting specific real estate funding by NBFCs will affect land financing by them, the report ...| January 26, 2021, Tuesday
RBI open to digital currency, examining the need to introduce CBDC
A CBDC is legal tender and a central bank liability in digital form denominated in a sovereign currency and appearing on the ...| January 26, 2021, Tuesday
RBI refutes reports of withdrawal of old Rs 100, Rs 10, Rs 5 notes
The Reserve Bank of India (RBI) on Monday refuted reports of withdrawal of old series of Rs 100, Rs 10 and Rs 5 currency ...| January 25, 2021, Monday
Best of BS Opinion: Correct course on tariffs, regulating NBFCs, and more
Here's a selection of Business Standard opinion pieces for the day| January 25, 2021, Monday
NBFC norms will check regulatory arbitrage, support growth: Experts
An analyst with a rating agency said the regulation should be ownership neutral and avoid special treatment| January 25, 2021, Monday
Strengthening regulation
Growth of NBFCs needs better supervision by RBI| January 24, 2021, Sunday
Fraud in fintech being fought with regulatory tech
It has been estimated that more than 1,200 lending apps are active in India. While some have been shut down or removed from ...| January 24, 2021, Sunday
Top headlines: RBI paper proposes four-tier structure for NBFCs
CBI books Cambridge Analytica, Global Science over illegal data harvesting, Bharat Biotech becomes first Indian Covid vaccine ...| January 22, 2021, Friday