Rbi (www rbi org in) Recruitment, Reserve bank of india 2016-2017
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The Reserve Bank of India (RBI) www rbi org in is it was established in April 1935 with a share capital of Rupees 5 to 'crores' with the recommendation of Hilton young commission. RBI www rbi org in) was nationalized in the year 1943.The general superintendence and direction of the bank entrusted to Central Board of a direction of 20 members, the Governor and four Deputy Governors and one government official from the ministry of finance. The RBI (www rbi org in) Act 1934 was commenced on April 1st,1935. The Act,1934 provides the statutory of the functioning of the Bank.The Reserve Bank has the sole authority to issue Bank notes in India.The Bank also keeps an account of notes in circulation and also the strokes at RBI offices and currency chests. It also performs a wide range of promotional functions to support national objectives and industries.The Bank (www rbi org in) was constituted for the need of the following:
- To regulate the issue of the bank notes.
To maintain reserves with a view to secure monetary stability
To operate the credit and currency system of the country, to its advantage.
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