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Sovereign Gold Bond, abbreviated as SGB, is a government security issued by the Reserve Bank of India (RBI) on behalf of the Government of India. It is denominated in grams of gold and is linked to the price of gold in India. It is also an interest-bearing bonds, carrying an interest of 2.5% p.a. paid in two installments in a year. [1] [2]
The CA issues digital certificates aimed to facilitate speedy and cost-effective digital transactions. These certificates are used by the RBI, banks and other financial institutions to exchange electronic messages between banks ensuring authenticity, integrity, non-repudiation and confidentiality. The CA services are aimed at facilitating.
The acronym 'RTGS' stands for Real-time gross settlement. The Reserve Bank of India (India's Central Bank) maintains this payment network. Real-time gross settlement is a funds transfer mechanism where transfer of money takes place from one bank to another on a 'real time' and on 'gross' basis.
History of the Reserve Bank of India, Volume 1: 1935–1951. RBI. 1970. ISBN 81-7596-247-X. (2005 reprint PDF) Reserve Bank of India: Functions and Working. RBI. 2005.(2005 reprint PDF) G. Balachandran. The Reserve Bank of India, 1951–1967. Oxford University Press. 1998. ISBN 0-19-564468-9. A. Vasudevan et al.
Apart from the four functional directors, three directors are Government nominee directors, and the end-user representatives consisting of Reserve Bank of India, Ministry of External Affairs, and Department of Post, each one of them, has one nominee as Director. Additionally, two independent directors are nominated by the Ministry of Finance.
Holding office for over seven years, Sir Benegal Rama Rau was the longest-serving governor, while Amitav Ghosh's 20-day term is the shortest. The bank's fifteenth governor, Manmohan Singh, later became India's thirteenth prime minister. Sanjay Malhotra is the twenty-sixth governor of the Reserve Bank of India from 11 December 2024. [1]
The functions of the subsidiary are governed by the provisions of The Deposit Insurance and Credit Guarantee Corporation Act, 1961 (DICGC Act) and The Deposit Insurance and Credit Guarantee Corporation General Regulations, 1961 framed by the Reserve Bank of India in exercise of the powers conferred by sub-section (3) of Section 50 of the Act. [5]
Shri G. Padmanabhan of the office, who became executive director [3] of RBI in 2011, and the non-executive chairman of Bank of India in 2015 was also gold medalist of University of Kerala. Salim Gangadharan , director of South Indian Bank , [ 4 ] became the first-ever principal chief general manager of the office in 2013.