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The Reserve Bank of India, India's central banking authority, was established in April 1935, but was nationalized on 1 January 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b).
This event called into question the previous banking policies of India and triggered the era of economic liberalization in India in 1991. Given the rigidities and weaknesses had made serious inroads into the Indian banking system by the late 1980s, the Government of India, post-crisis, took several steps to remodel the country's financial ...
The preamble of the Reserve Bank of India describes the basic functions of the reserve bank as: [13]...to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex ...
The textbooks are in color-print and are among the least expensive books in Indian book stores. [11] Textbooks created by private publishers are priced higher than those of NCERT. [ 11 ] According to a government policy decision in 2017, the NCERT will have the exclusive task of publishing central textbooks from 2018, and the role of CBSE will ...
The board oversee compliance with the "Code of Bank's Commitment to Customers". It is not a compensation mechanism and looks into an individual complaint only to the extent it points to any systemic compliance failure. It is an independent and autonomous body, registered as a separate society under the Societies Registration Act, 1860 on 18 ...
1994 - India fund Management Limited was established to manage the operations of Indian Bank Mutual Fund 2006-07 - The bank entered into a strategic alliance with Oriental Bank of Commerce and Corporation Bank 2012: Scheme of Amalgamation of M/s India Fund Management Limited, a wholly owned subsidiary of the bank with Indian Bank.
Federal Skill Academy [24] - The Federal Skill Academy (FSA) is a part of the Federal Bank Hormis Memorial Foundation's CSR initiative, aiming to contribute significantly to India's skilling ecosystem. The Bank initiated the launch of its 5th and 6th Skill Academy in Chennai and Belagavi in October 2023.
NIBM is governed by a Board, its highest policy-making body and, the governor of the Reserve Bank of India (RBI) is the chairman of the Governing Board. [1] The Governing Board includes representatives from the various member banks and educational institutes. Prof. Partha Ray [2] is the current director of the institute.