BANK
A
Financial Institution which accepet different from of deposit and lend them to
the prospective borrows as well as allows the depositors to withdraw their
money from the account by the cheque is a bank.
Bank
in as design as:
Govt. Of India
Ministry of Finance
1)RBI
Scheduled Bank Non
Scheduled Bank
Scheduled Commercial Bank Scheduled Co-
operative
Bank
Public Bank Private Foreign Regional
Bank Bank Rural Bank
Nationalised state Bank
and Scheduled
Central Scheduled State Co-
Bank Its
associates Co-operative
Bank operative Bank
Old
Private New Private
Bank Bank
RBI (Reserve bank of
India)
RBI was set up in 1935 under RBI
Act 1934. Initially its head office was in Calcutta up to 1937. Then the head
office had shifted to Mumbai. At the time of formation RBI had 5cr. Capital on
1st April 1935. Its financial year is July to June. RBI had started
operation as a nationalised bank on 1st
January 1949.
The Executive head of the Bank is
called Governor and assisted by 21 member :
a) 1 Governor
of RBI
b)
4 Deputy Governor.
c)
1 Official appointed by Finance Minister.
d)
10 Director of Local Board appointed by he Central Government.
e) 1 chief operation
officer.
Function
of RBI :
1.
Traditional
Role :
a. Issue of
currency notes (except 1 rupee note and all subsidery coins). Before
1957, RBI was issued currency under proportional reserve system – RBI issued
currency under minimum server system – RBI has to maintain a minimum of -200
crores in two designated forms (a) Gold reserve - =115 crores (b) .
No comments:
Post a Comment