- RBI was established on April 1st, 1935. The purpose of RBI was to provide financial stability during the Great Depression 1929-1939. But after India's Independence (15 August 1947) the nationalization of RBI took place in the year 1949 and it became a fully government owned entity.
- The headquarters of RBI was initially located at Kolkata. But it was shifted to Mumbai in the year 1937. It also operates two Universities for training its staff.one is Reserve Bank Staff College (Chennai)second is Agricultural Banking located at Pune, Maharashtra.
- RBI was also the central bank of the neighbouring country of Burma until April 1947. This does not include the two years when Burma (Myanmar) was under Japanese occupation during World War 2, RBI acted as the central bank of Pakistan on 14 August. Therefore, RBI played dual role in its initial year.
- The RBI logo was based on the East India company's double mohur. The logo consisted of a sketch of a lion and a palm tree. But it was later decided that the lion be replaced by tiger which is the national animal of India. Therefore, the RBI logo has the sketch of a tiger along with Palm tree.
- The financial year of RBI is from 1 July to 30th June.
- Shri Manmohan Singh is the only Prime Minster to have also served as the Governor of RBI.
- The first Indian to hold the position of the Governor of RBI was Mr. C.D. Deshmukh. He was the third governor of RBI.
- RBI is responsible only for printing the currency notes. Minting of coins is done by the Government of India.
- The first women to become the deputy governor of RBI is Mrs. K.J. Udeshi. She was appointed in 2003.
- Present Governor - Shaktikanta Das (supported demonetization).
Thursday, November 4, 2021
10 Facts About the Reserve Bank of India
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