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Financial Inst's
Financial Inst's RBI
Question | Answer |
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When was the Reserve Bank of India established? | RBI was established on April 1 1935 in accordance with the provisions of the Reserve bank of India Act 1934 |
How are the affairs of the RBI governed? | The RBI affairs are governed by a central board of Directors (appointed by the Govt of India in keeping with the Reserve Bank of India Act). |
How is the Central Board of RBI constituted? | The Cental Board is constituted with 1. Official Directors-(Full time)Governor and not more than four deputy Governors. |
2. Non OfficialDirectors-Nominated by the Govt Ten Directors from various fields and one Government official 3.Others- Four Directors one each from four local boards. | |
Which are the locations and what is the constitution of local boards of RBI? | The Locations are Mumbai Kolkata Chennai and New Delhi. Local Board is constituted of five members each which is appointed by the Central Govt for a term of four years. |
When is the Board for Financial Supervision (BFS) of RBI came into existance? | The Board for Financial Supervision (BFS) of RBI came into existance on Nov 1994 (as a committee of the central Board of Directors of the Reserve Bank of India). |