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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.
Patra is a 1985 batch RBI Grade B officer. [4] [5] Before his appointment as deputy governor, Patra served as the executive director of the monetary policy department of RBI—where he moved to in 2006—and as such, was an internal member of the powerful Monetary Policy Committee.
The Reserve Bank of India (abbreviated as RBI) is India's central bank and regulatory body responsible for regulation of the Indian banking system. Owned by the Ministry of Finance of the Government of the Republic of India , it is responsible for the control, issue and maintaining supply of the Indian rupee.
Sir C. D. Deshmukh was the first Indian to serve as the governor. Sir Benegal Rama Rau was the longest serving governor. I. G. Patel, the fourteenth governor Manmohan Singh, the fifteenth governor, later served as the thirteenth prime minister of India Raghuram Rajan, the twenty-third governor Shaktikanta Das, the twenty-fifth governor Sanjay Malhotra, the twenty-sixth and the incumbent governor
On 19 January 2011, Anand Sinha was appointed as deputy governor of RBI for a period of two years. [3] His appointed was extended for a further period of 11 months till 18 January 2014. This extension was given to Sinha to smoothen the process of issue of new bank licences, an area being handled by him as the deputy governor in charge of ...
Deputy Governor of Reserve Bank of India Kamalesh Chandra Chakrabarty or K. C. Chakrabarty , (27 June 1952 – 26 March 2021) was an Indian banker who served as one of the four Deputy Governors of the Reserve Bank of India (RBI) (India's central bank ) from 15 June 2009 to 25 April 2014, resigning three months ahead of the completion of his term.
According to a 2018 report from the Reserve Bank of India ₹15.3 lakh crore (15.3 trillion rupees on the short scale) of the ₹15.41 lakh crore in demonetised bank notes, or approximately 99.3%, were deposited in banks, leading analysts to state that the effort had failed to remove black money from the economy.
The Government of India, in consultation with RBI, notified the 'Inflation Target' in the Gazette of India Extraordinary dated 5 August 2016 for the period beginning from the date of publication of the notification and ending on 31 March 2021 as 4%. At the same time, lower and upper tolerance levels were notified to be 2% and 6% respectively.