Term
| When was the Reserve Bank of India established? |
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Definition
| RBI was established on April 1, 1935 in accordance with the provisions of the Reserve bank of India Act, 1934. |
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Term
| How are the affairs of the RBI governed? |
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Definition
| The RBI affairs are governed by a central board of Directors (appointed by the Govt of India in keeping with the Reserve Bank of India Act). |
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Term
| How is the Central Board of RBI constituted? |
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Definition
| The Cental Board is constituted with 1. Official Directors-Full time: Governor and not more than four deputy Governors.2. Non Official Directors-Nominated by the Govt, Ten Directors from various fields and one Government official3. Others- Four Directors, one each from four local boards. |
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Term
| What are location and constitution of of local boards of RBI? |
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Definition
| The Locations where the located one each in the four regions of the country.Mumbai, Kolkata, Chennai and New Delhi.Local Board is constituted of five members each, appointed by the Central Govt for a term of four years. |
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Term
| When is the Board for Financial Supervision (BFS) of RBI came into existance? |
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Definition
| The Board for Financial Supervision (BFS) of RBI came into existance on Nov 1994 (as a committee of the central Board of Directors of the Reserve Bank of India). |
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