4. Reserve Bank of India

1950-1970 -Legal Department was set up in 1960 -Premises Depart.ent was set up in 1965 -Credit Planning and Banking Development Cell

developments during 1980s(recommendation of the Reorganisation Committee) -Chief Accountant's Office was divided into two:- 1)DAP(Department of Administration and Personnel) -DA(Department of Administration) -PPD(Personnel Policy Department) 2)DAE(Department of Accounts and Expenditure) -DCM(Department of Currency Management) -DEBC(Department of Expenditure and Budgetary Control) -DGBA(Department of Government and Bank Accounts) DEIO(Department of External Investments and Operations) was carved out of the Foreign Accounts Division Economic and Statistics Departments as specialized departments DEAP(Department of Economic Analysis and Policy) (five major units):- -internal finance; international finance; prices; production,capital markets and national economic parameters; general unit -Financial Markets Monitoring Unit -Division of State and Local Finance was carved out of the Division of Fiscal Analysis (later Division of Central Finances) (publishes five reports):- -Annual Report,Report on Trend and Progress of Banking in India,Report on Currency and Finance,Handbook of the Indian Economy and Finances of State Governments -a monthly bulletin along with its WSS (surveys):- -Foreign Collaboration Survey -Survey on Ownership Pattern of Government Rupee Securities

1990 onwards -Securities Department functions were taken over by the Public Debt Office,Deposit Accounts Department and Public Accounts Department -Narsimham committee -BFS(Board for Financial Supervision) was set up -DoS(Department of Supervision) was set up as the executive arm of the BFS -DoS was renamed as DBS(Department of Banking Supervision) -DFC(Department of Financial Companies) we as renamed as DNBS -DA and PPD were restructured to HRDD and DAPM(Department of Administration and Personnel Management) -CPD(Credit Planning Cell) was renamed to MPD(Montetary Policy Department) -MPC(Montetary Policy Committee) -Secretary's Department -PRD(Press Relations Division) was moved to Secretary's Dept (released MCIR-Monetary and Credit Information Review) -management of public debt function was moved to IDMD(Internal Debt Management Department)

*Present Departments* 1)*MPD(Monetary Policy Department)* 2)*DBR(Department of Banking Regulation)* 3)*DBS(Department of Banking Supervision) 4)*DGBA(Department of Government. and Bank accounts)*(functions as central office of the banking departments of all ROs)(Nagpur) 5)*IDMD(Internal Debt Management Department)* 6)*FED(Foreign Exchange Department)* 7)*FIDD(Financial Inclusion and Development Department)* 8)*DEIO(Department of External Investments and Operations)* 9)*DNBR(Department of Non-Banking Regulation)* 10)*DNBS(Department of Non-Banking Supervision) -SLCC(State Level Coordination Committee)

Department of Statistics(later DESACS-Department of Statistical Analysis and Computer Services) -DIT was set up

-RPCC(Rural Planning and Credit Cell) was merged with ACD to NABARD -later RPCD(Rural Planning and Credit Department) was set up -IECD(Industrial and Export Credit Department)(before ICD-Industrial Credit Department)

APBS(Aadhar Payments Bridge System) managed by NPCI AEPS(Aadhar Enabled Payment System) used by BCs

Central Board meets atleast 6 times in a yr and atleast once in every quarter Inspection Department assess the achievements and performance of central office departments and regional office departments ACD(Agricultural Credit Department) was reorganized into three separate sections:- 1) Agricultural Credit Section 2)Statistical and Research Section (later Department of Research and Statistics-DRS with two separate divisions:- Economic Intelligence and Economic Research) 3) Banking Section(later Department of Banking Operations) Balance of Payments Division created within Statistics and Research Section(ensured compliance to the IMF)

*Committee of the Central Board* BIS has played a key role in assisting the central banks all over the world

RBI Act features(read from book) first schedule:- local boards for four areas second schedule:- list the names of all SCBs

central banking was done first done by 3 presidency banks:- -Bank of Bengal,Bank of Mumbai and Bank of Madras Presidency banks were amalgamted to form the Imperial Bank (on the recommendation of Hilton Young Commission)

RBI was formed for agricultural operations and marketing of crops most important developmental role of RBI:-(poverty elimination and facilitating growth process) to raise the savings to GDP ratio

11)*DCBR(Department of Cooperative Banking Regulation)* 12)*DCBS(Department of Cooperative Banking Supervision)* -TAFCUB(Task Force on urban Cooperative Banks) 13)*FMRD(Financial Markets Regulation Department)* -Market Intelligence Cell is proposed to set up 14)*FMOD(Financial Markets Operation Department)* (functions include):- -domestic forex market operations(spot,forward,swaps),LAF,OMO,SMO(Special Market Operations),computation of NEER and REER,MSS 15)*FSU(Financial Stability Unit)* -FSDC(Financial Stability and Development Council) 16)*DPSS(Department of Payment and Settlement System)* -BPSS(Board for Regulation and Supervision of PSS) 17)*CSBD(Corporate Strategy and Budget Department)* 18)*DEPR(Department of Economics and Policy Research)* -before DEAP 19)*International Department* 20)*DSIM(Department of Statistics and Information Management)* -XBRL

21)*Legal Department* 22)*HRMD* 23)*Inspection Department* -RBIA(Risk Based Internal Audit) -ISA(Information System Audit) -Concurrent Audit(CA)(audit by external chartered accountants for financial transactions) -CSAA(Control Self-assessment Audit)(atleast twice in a yr) ARMS(Audit Risk Management Sub-committee) and EDC(Executive Director's Committee) 24)*Premises Department* 25)*Risk Monitoring Department* 26)*Secretary's Department* 27)*CEPD(Consumer Education and Protection Department)* 28)*DoC(Department of Communication)* 29)*DCS(Department of Corporate Services)* 30)*CVC(Central Vigilance Cell)* -CVO(Chief Vigilance Officer)