What is Reserve Bank of India (RBI) Functions/Objectives

RBI Full Form in Hindi: Do you know What is Reserve Bank of India, what are the functions of RBI, where is the headquarter of RBI located, and when RBI was established. If you do not have information about RBI, then you are on the right place to know about RBI, because in this blog post we have shared all the information related to RBI with you.

If you are preparing for a government exam, or if you are a student, then it is very important to know about RBI because many questions are often asked about RBI in the exam. Along with this, every common citizen should also have information about RBI.

RBI of India central bank Which makes rules for all other banks in the country, if any bank cheats you then you can complain about it to RBI, so in this article we have also given you the contact numbers of RBI.

So stay tuned till the end of the article and we start today’s important article without any delay – What is Reserve Bank of India in Hindi,

What is Reserve Bank of India (RBI) Purpose Reserve Bank Of India In Hindi

RBI Full Form in Hindi

The full name of RBI is Reserve Bank of India, which is called “Reserve Bank of India” in Hindi.

  • RBI Full Form – Reserve Bank of India
  • RBI Full Form in Hindi – Reserve Bank of India

What is Reserve Bank of India (What is RBI in Hindi)

The system of banking in each of the countries and the task of controlling the economy of the country is a supreme Bank Which is called Central Bank, similarly India also has its own Central Bank which is called RBI (Reserve Bank of India).

RBI acts as the regulator for all other small and big banks in India and operates its bank following the guidelines of RBI. The work of controlling the economy of the country is also done by the RBI, the account of all the currency of India is kept by the RBI.

The headquarter of RBI is located in Mumbai, the Governor of RBI sits in the headquarters itself. At present, there are 31 regional offices of RBI all over the country. The current governor of RBI is Shaktikanta Das.

History of RBI

Reserve Bank of India It was established on 1 April 1935 under the Reserve Bank of India Act 1934, at that time India was under British rule. The central office of the Reserve Bank of India was initially established in Kolkata but was permanently transferred to Mumbai in 1937.

Indian economist Dr. Bhim Rao Ambedkar played an important role in the establishment of RBI. RBI could be established only on the basis of his guidelines. Sir Osborne Smith became the first Governor of RBI. Below we have told you the names of all the governors of RBI and their tenure through a table.

Name and tenure of all the governors of RBI so far

serial number Governor’s name working time start date tenure last date
1 Sir Osborne Smith 1 April 1935 30 June 1937
2 Sir James Taylor 1 July 1937 17 February 1943
3 Sir C D Deshmukh 11 August 1943 30 June 1949
4 Sir Benegal Rama Rao 1 July 1949 14 January 1957
5 K G Ambegaonkar 14 January 1957 28 February 1957
6 H V R Iyengar 1 March 1957 28 February 1962
7 PC Bhattacharya 1 March 1962 30 June 1967
8 L K Jha 1 July 1967 3 May 1970
9 b n respect 4 May 1970 15 June 1970
10 S Jagannath 16 June 1970 19 May 1975
11 N C Sengupta 19 May 1975 19 August 1975
12 KR Puri 20 August 1975 2 May 1977
13 M Narasimhan 3 May 1977 30 November 1977
14 I G Patel 1 December 1977 15 September 1982
15 Dr Manmohan Singh 16 September 1982 14 January 1985
16 A Ghosh 15 January 1985 4 February 1985
17 R N Malhotra 4 February 1985 22 December 1990
18 S Venkataraman 22 December 1990 21 December 1992
19 C Rangarajan 22 December 1992 22 November 1997
20 bimal jalan 22 November 1997 6 September 2003
21 YV Reddy 6 September 2003 5 September 2008
22 D Subbarao 5 September 2008 4 September 2013
23 Raghuram Rajan 5 September 2013 4 September 2016
24 Arjit Patel 11 September 2016 11 December 2018
25 Shaktikanta Das 11 September 2018 So far

Work of RBI

RBI has many functions to control the banking system of the country. In this article, we have told you about some of the major functions and objectives of Reserve Bank of India.

#1 – Currency Issuance

Reserve Bank of India has the monopoly to print notes. RBI prints all notes except Re 1 note only. The work of printing 1 rupee notes is done by the Ministry of Finance, it is signed by the Finance Secretary.

#2 – Bank of the Banks

other country commercial bank RBI works for banks in the same way as they work for their customers. Reserve Bank of India gives loan to any bank that needs money.

#3 – Regulator for the Banking System

RBI acts as a regulator to protect the interests of the citizens of the country. All the banks in the country work according to the guidelines of RBI, and the bank which does not follow the rules of RBI takes away the status of RBI bank. Along with issuing guidelines, RBI keeps on monitoring the banks.

#4 – Keeping Forex Reserves Safe

RBI also has the responsibility of safeguarding the foreign exchange reserves of the country. RBI buys and sells foreign currencies with the aim of keeping the foreign exchange rate stable.

When the supply of foreign exchange decreases in the foreign exchange market, the RBI fulfills its supply by selling the foreign exchange. And when the supply of foreign exchange increases, RBI buys the foreign currency. In this way RBI maintains the stability of the foreign exchange exchange.

#5 – Government Bank

RBI acts as a bank for the Government of India. When the government needs money to fulfill its functions, the RBI gives the government Loan Gives, and also makes payment on behalf of the government by becoming an agent of the Government of India.

#6 – Economy of the country

RBI keeps an account of the currency of the whole country, and from time to time publishes it in the form of RBI data, by which the economy of the country can be ascertained. RBI also helps in improving the economy of the country by becoming an advisor to the government.

All these come under the main functions of RBI.

RBI Contact No.

If any bank cheats you, then you can tell your problem to RBI by calling the helpline number issued by RBI. Following are all the contact numbers of RBI –

  • 8691960000 (for information and assistance)
  • 011-23711 333 (New Delhi – Head Office)
  • 022-2270 4715 (Mumbai – Regional Office)
  • 01352742001 (Banking Ombudsman)

After reading the article till here you What is RBI would have understood well.

Some interesting facts about RBI

Now let’s know some interesting things about RBI which you will hardly know.

  • RBI only prints notes whereas coins are made by the Government of India.
  • RBI does not print 1 rupee notes, the work of printing 1 rupee notes is of the Ministry of Finance.
  • The headquarter of RBI was earlier located in Kolkata, but in 1937 it was transferred to Mumbai.
  • The old name of RBI was Imperial Bank of India.
  • The financial year of RBI is from 1st July to 30th June, whereas in India the financial year is from 1st April to 31st March.
  • Sir Osborne Smith and KG Ambegaonkar, these two RBI governors never got the opportunity to sign the notes.
  • Apart from India, RBI has also acted as the central bank for two other banks. In 1947 for Myanmar and in 1948 for Pakistan.
  • The symbol of RBI is palm tree and tiger.

FAQ: Reserve Bank Of India In Hindi

What is RBI?

RBI is a central bank of India that controls the banking system of the country and performs the same functions for other banks in the country as other banks work for their customers.

What is the full name of RBI?

The full name of RBI is Reserve Bank of India.

When was RBI established?

RBI was established on 1 April 1935.

Who established RBI?

RBI was established in the British Raj, but Babasaheb Dr. Bhim Rao Ambedkar played an important role in the establishment of RBI.

Who was the first governor of RBI?

The first Governor of RBI was Sir Osborne Smith.

Who is the present Governor of RBI?

The current Governor of RBI is Shaktikanta Das, who was sworn in as the Governor of RBI on 11 September 2018.

Where is the headquarter of RBI located?

The headquarter of RBI is located in Mumbai, where the governor sits and policies are implemented.

What is the symbol of RBI?

The symbol of RBI is palm tree and tiger.

What was the old name of Reserve Bank of India?

The old name of Reserve Bank of India was Imperial Bank of India.

When was RBI nationalized?

RBI was nationalized in 1949.

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Conclusion – What is Reserve Bank of India in Hindi

so guys it was Reserve Bank of India Complete and important information about, in which we know what RBI is, when RBI was established and what are the functions of RBI. Apart from this, in this article, we have also told you some interesting information about RBI so that you get to learn something new.

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