Central Board of Reserve Bank of India _ Banking Awareness7

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Central Board of Reserve Bank of India

Posted by Admin on April 25th, 2012 |No Comments

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The Reserve Banks affairs are governed by a Central Board of Directors. The board is appointed by the

Government of India in keeping with the Reserve Bank of India (RBI) Act, 1934.

Structure of Central Board of Directors:

Appointed/nominated for a period of FOUR yearsConstitution:

Official Directors

Full-time : One Governorand not more than four Deputy Governors.

Non-Official Directors

Nominated by Government: Ten Directors from various fields and one government

official (Generally from Ministry of Finance)Others: Four Directors - one each from four local boards. One each for the four regionsof the country in Mumbai, Calcutta, Chennai and New Delhi.

The Function of Central Board of RBI:




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The main function of Central Boardof RBI is General superintendence and direction of the Banks affairs.The local boards advises the Central Board on local matters and to represent territorial and economic

interests of local cooperative and indigenous banks; to perform such other functions as delegated by CentralBoard from time to time.

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Central Board of Reserve Bank of India _ Banking Awareness7