Commercial Banks In India

In this article we have discussed about the Structure of Commercial Banking in India. Bank is an institutions that accepts deposits from the public,mobilizes their savings and keeps the same under its custody, these deposits can be withdrawn by Cheques or ATMs or any other available methods. Banks lends money to those who need it and also performs diverse agency functions and also create credit.
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Important Points About RBI



  • Name of Central Bank of India: Reserve Bank of India (RBI)
  • No of Central Bank in India: One (1)
  • Reserve Bank of India Act passed in 1934.
  • Reserve Bank of India (RBI) established on 1 April 1935.
  • Reserve Bank of India (RBI) established on the recommendation of Hilton-Young Commission.
  • Hilton-Young Commission submitted its report in the year 1926.
  • Initially RBI was constructed as a Private Share holders’ bank with fully paid-up capital of Rs 5 Crores.
  • RBI was nationalize in the year of 1st January,1949.
  • RBI is a statutory body.
  • RBI is the sole authority in India to issue Bank notes in India.
  • RBI can issue currency notes as much as the country requires, provided it has to make a security deposit of Rs. 200 crores, out of which Rs. 115 crores must be in gold and Rs. 85 crores must be FOREX Reserves.
  • Emblem of RBI: Panther and Palm Tree.
  • Initially the headquarter of RBI was in Calcutta (Now Kolkata) but in 1937 it was permanently moved to Mumbai, Maharastra.
  • The Reserve Bank of India has 19 regional offices, most of them in state capitals and 9 Sub-offices
  • The Executive head of RBI is known as Governor.
  • The governor is associated by Four Deputy Governors.
  • The bank has also two training colleges for its officers, viz. Reserve Bank Staff College at Chennai and College of Agricultural Banking at Pune.
  • RBI is a member bank of the Asian Clearing Union.
  • Chintaman Dwarkanath Deshmukh (C D Deshmukh) was the governor of RBI at the Time of nationalization of RBI in 1949.
  • C D Deshmukh, then Governor of RBI, represented India at the Bretton Woods negotiations in 1944.
  • 1st women Deputy Governor of RBI -K.J.Udeshi.
  • RBI is not a Commercial Bank.
  • RBI prints currency in 15 Languages.
  • RBI is a member of IMF (International Monetary Fund).

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