RBI

Reserve Bank of India- RBI – भारतीय रिज़र्व बैंक

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Reserve Bank Of India – RBI –भारतीय रिज़र्व बैंक

The Reserve Bank of India or RBI was established in the year 1935, on April 1st via the Reserve Bank of India Act of 1934. Its central office was initially in Calcutta, but later on, in the year 1937, it has been moved to Mumbai, India. The Governor sits in this office. Initially, it was privately owned, but later on, after its nationalization in the year 1949, the Government of India owned it. RBI as totally 27 Regional offices & 4 sub-offices mostly is in State Capitals. RBI is India’s central banking institution, which controls the Financial policy of the Indian rupee & also it authorizes all Banks in India.

RBI REGIONAL OFFICES
Image source: https://rbi.org.in/Scripts/RegionalOffices.aspx

Types of Banks in India

Here is the list of the Types of Banks in India, get the information of all types of Banks like regional banks, private banks, public sector banks, urban banks, foreign banks and more banks list.

  1. State Cooperative Banks (SCBs)
  2. Urban Cooperative Banks (UCBs)
  3. Private Sector Banks or Private Banks
  4. Foreign Banks with branches in India
  5. Foreign Banks with representative offices in India
  6. Regional Rural Banks (RRBs)
  7. Nationalized Banks or Public-Sector Banks or Government Banks
  8. Payments Banks
  9. Small Finance Banks
  10. Local Area Banks

Reserve Bank of India (RBI) as five training Institutes:

Two of them are a division of RBi & 3 of them are Autonomous

  1. College of Agricultural Banking and
  2. Reserve Bank of India Staff College is an element of the Reserve Bank
  3. autonomous, such as National Institute for Bank Management (NIBM),
  4. Indira Gandhi Institute for Development Research  (IGIDR),
  5. Institute for Development and Research in Banking Technology (IDRBT)

More institutes please browse https://rbi.org.in/Scripts/OtherLinks.aspx

RBI Subsidiaries:

  1. Deposit Insurance and Credit Guarantee Corporation of India (DICGC),
  2. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL),
  3. National Housing Bank (NHB)

Banking Ombudsman Scheme was introduced in the year 1949 by the Reserve Bank of India. It comes under the Banking Regulation Act, Section 35 A. This scheme is absolutely inexpensive and expeditious. People can make complaints related to any banking services under this scheme.

Till now twenty Banking Ombudsman are available. Their offices are located mostly in the capitals of the states. Annex I of the Banking Ombudsman Scheme holds the addresses, as well as the contact details of each office. RBI Ombudsman scheme, especially for Non-Banking Financial Company (NBFC), launched on Feb 23, 2018. Rbi also launched another scheme i.e Protected Disclosures Scheme for Private Sector and Foreign banks

https://www.rbi.org.in/Scripts/bs_viewcontent.aspx?Id=3468

IFSC Code

The full form of IFSc code is the Indian Financial System Code. This is an alphanumeric code. This code is vital for electronic funds transfer in India. So if someone wants to do any transfer through RTGS which is also known as the Real Time Gross Settlement or NEFT which is also known as the National Electronic Fund Transfer, this 11 digit code is needed.

https://rbi.org.in/Scripts/IFSCMICRDetails.aspx

ifsc code
Image Source: rbi.org.in/

MICR CODE:  https://rbi.org.in/Scripts/IFSCMICRDetails.aspx

micr code
Image source: https://rbi.org.in/Scripts/IFSCMICRDetails.aspx

RBI recruitment

You can Apply for RBI careers for your desired post. RBI or the Reserve Bank of India invites applications for different positions every year. You just have to log in to the official website www.rbi.org.in and apply for your desired post. Before applying, you need to check the eligibility criteria for each post. If you are eligible, then just go for it. After making the payment, your application will be completed. Then you have to appear for the examinations and interview. If you get qualified in these steps successfully, you can start working for RBI.

https://opportunities.rbi.org.in/scripts/index.aspx

Email Id : careers@rbi.org.in

rbi careers
Image source: https://opportunities.rbi.org.in/scripts/index.aspx

Demonetization

The Government of India declared that demonetization of all 1000/- and 500/- banknotes of the Mahatma Gandhi series. The Narendra Modi took the decision to claim the fake currencies, black money and more. It is a good move to see the development of Future India. This move also supported to stop terrorism in India.

RBI Official Website: https://rbi.org.in

Contact Details: https://rbi.org.in/Scripts/helpdesk.aspx

Complaints: https://rbi.org.in/Scripts/Complaints.aspx