Financial Inst's RBI
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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
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| 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).
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| 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.
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| 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.
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| 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.
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| 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).
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