Reserve Bank of India (RBI) Kya Hai? | Printing Press, Government Mint, RBI Function By Ashish Sir

Summary

The video hosted by Ashish Gautam on Adda 24/7 discusses various aspects of the Reserve Bank of India (RBI). It explains the history, functions, and structure of RBI, including its role as India's central bank. The video touches upon the RBI's establishment in 1935, its nationalization in 1949, and its governance structure with one governor and four deputy governors. It also covers the process of printing currency notes, coin minting, and the RBI's role in monetary policy and financial regulation. The session provides valuable insights into India's financial system.

Takeaways

• 🏛️ The Reserve Bank of India (RBI) is the central bank of India, established in 1935 and nationalized in 1949.
• 🌏 RBI was initially headquartered in Calcutta but later moved to Mumbai, Maharashtra.
• 🏦 RBI is often referred to as the 'bank of banks' and performs various regulatory and developmental functions for the banking sector.
• 📜 The printing of currency notes is managed by four presses: Mysore, Salboni, Devas, and Nashik.
• 🏭 The Security Printing and Minting Corporation of India Limited (SPMCIL) oversees the printing of currency notes and coins.
• 💼 RBI's Central Board has a Governor and four Deputy Governors, along with other members representing various sectors.
• 💵 The highest denomination of Indian currency notes is 10,000 rupees.
• 🏦 RBI also acts as a banker to the government, providing financial assistance and managing fiscal policy.
• 📊 RBI is responsible for determining key monetary policy rates such as repo rate, reverse repo rate, and others.
• 🏢 RBI's functions include being a lender of last resort and managing foreign exchange reserves.

Q & A

What is the role of the Reserve Bank of India (RBI)?

The Reserve Bank of India (RBI) is the central bank of India, responsible for regulating the country's banking system, implementing monetary policy, and ensuring financial stability.

When was the Reserve Bank of India established?

The Reserve Bank of India was established in 1935 under the provisions of the Reserve Bank of India Act, 1934.

Where was the RBI's headquarters initially located, and where is it now?

The RBI's headquarters was initially located in Kolkata, but it was moved to Mumbai in 1937.

When was the RBI nationalized, and what does nationalization mean in this context?

The RBI was nationalized in 1949, meaning it transitioned from private ownership to being under the control of the Government of India.

Which commission recommended the establishment of the RBI?

The Hilton Young Commission recommended the establishment of the Reserve Bank of India.

How many members are there in the Central Board of the RBI, and who are they?

The Central Board of the RBI consists of 21 members, including the Governor, 4 Deputy Governors, 4 members from local boards, 2 representatives from the Ministry of Finance, and 10 members nominated by the Government of India.

Who are the current Deputy Governors of the RBI?

As of now, the four Deputy Governors of the RBI are Mahesh Kumar Jain, T. Rabi Sankar, M. Rajeshwar Rao, and one vacant position.

Who was the first Governor of the RBI, and who was the first Indian Governor?

The first Governor of the RBI was Sir Osborne Smith, and the first Indian Governor was C. D. Deshmukh.

Where are the RBI's currency printing presses located?

The RBI's currency printing presses are located in Mysore and Salboni under the Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), while the Government of India's presses are located in Dewas and Nashik under the Security Printing and Minting Corporation of India Limited (SPMCIL).

Where are India's coin mints located?

India's coin mints are located in Mumbai, Kolkata, Hyderabad, and Noida, all under the Security Printing and Minting Corporation of India Limited (SPMCIL).