Professional Documents
Culture Documents
Act,1934
Section:- 58
Last amended in 1997 to give proper
coverage to NBFC also. RBI established
on 1st April 1935. RBI was nationalized
w.e.f.1st January 1949. Previously
Imperial Bank of India from SBI was
conducting Central Banks functions
It was shareholders bank taken over
by Central Govt. Paid up capital is Rs.
5 Cr. RBIs Central Office is in Mumbai.
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Debt Manager
(2) Monetary Policy Authority
(3) Policy Maker
(4) Prudential Regulator Of Banks &
Non Banking Financial
Companies.
(5) Regulator Of Payment
Mechanism In india
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Functions of RBI
(a)Issuance of Currency : Sec. 22
Sole agency to issue bank notes under
signature of
Governor Rs.2 to Rs. 10000 Except one
rupee
note signed by finance secretary or coins
issued by
Central Govt.
Issue Dept.:- Responsible for issue fresh
notes.
Security aggregate value of gold &
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(h)Maintenance of External
Value of Indian Currency
as well as internal value.
Foreign Exchange reserves are
held by RBI wide powers to
regulate foreign exchange
transactions under FEMA
Foreign Exchange Management
Act.
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Sec.49:- Announcement
/
Publish Bank Rate Rate
at
which RBI is prepared to
buy
or rediscount bills of
exchange or other
Commercial papers
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