Full Form of RBI
Reserve Bank of India
RBI Full Form is Reserve Bank of India. RBI is the central bank of India that determines the regulatory policies regarding the monetary system of Indian currency and other financial implications. It is considered as a Banker’s Bank because Indian commercial banks hold their accounts in RBI. Founded in 1935 and headquartered in Mumbai, RBI started its operations with its primary focus to stabilize the economical situation after the World War I.
Initially, it was a private organization but it was nationalized in 1949. This bank is mainly related to supervision of financial conditions and systems, issue and management of currency, control over foreign exchange issues etc. RBI is responsible for determining CRR ( Cash Reserve Ratio ), SLR ( Statutory Liquidity Rate ), repo rate and reverse repo rate, bank rate and base rate, interest rate for savings deposit and term deposit etc.
Its functions are supervised by 4 zonal offices located in Kolkata, Delhi, Mumbai, and Chennai. It also has 19 regional offices and 9 sub-offices across India. The operations of RBI are superintended by a central board of directors that consists of 21 members. RBI runs 2 wholly owned and supervised training colleges and 3 other autonomous training institutions. DICGC and BRBNMPL are two wholly owned subsidiaries of RBI.