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Refusal to accept or delay in accepting payment towards taxes, as required by Reserve Bank/Government; Refusal to issue or delay in issuing, or failure to service or delay in servicing or redemption of Government securities; Forced closure of deposit accounts without due notice or without sufficient reason; Closure of account without customer ...
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 ...
Shri G. Padmanabhan of the office, who became executive director [4] 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 , [ 5 ] became the first-ever principal chief general manager of the office in 2013.
Institute of Chartered Accountants of India: 1-May-1949: Financial system and monetary policy: Reserve Bank of India: 01-Apr-1935: Mining and Mineral Exploration: Directorate General of Mines Safety(DGMS) 07-Jan-1902: Food Safety: Food Safety and Standards Authority of India: Aug-2011: Security Market: Securities and Exchange Board of India: 12 ...
Reserve Bank of India Act, 1934: This is the primary legislation governing the functions and powers of the Reserve Bank of India (RBI), which is the central bank of India. The act provides for the regulation of banking and credit in India and gives the RBI the authority to issue licenses to banks and regulate their activities.
The bank's fifteenth governor, Dr 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. Sir C. D. Deshmukh was the first Indian to serve as the governor and the first governor of independent India.
The Banking Regulation Act, 1949 is a legislation in India that regulates all banking companies in India. [1] Passed as the Banking Companies Act 1949, it came into force on 16 March 1949 and changed to Banking Regulation Act 1949 from 1 March 1966. It is applicable in Jammu and Kashmir from 1956.
The Reserve Bank of India extended financial support to the Board, meeting its expenses for the first five years. [3] However, on 28 September 2021, the member banks passed resolutions approving BCBSI dissolution. Accordingly it has stopped its operations and is under dissolution. [4]