RESERVE BANK OF INDIARecruitment Notifications - 2011

RESERVE BANK OF INDIA
Recruitment Notifications - 2011
18/08/2011Recruitment in RBI notification
18/08/2011Online Form Filling Link RBI - Brochure explaining RBI's Role and
Functions in brief
Reserve Bank of India : Functions and
Working
Organisation and Functions
Establishment
The Reserve Bank of India was established
on April 1, 1935 in accordance with the
provisions of the Reserve Bank of India Act,
1934.
The Central Office of the Reserve Bank was
initially established in Calcutta but was
permanently moved to Mumbai in 1937. The
Central Office is where the Governor sits and
where policies are formulated.
Though originally privately owned, since
nationalisation in 1949, the Reserve Bank is
fully owned by the Government of India.
Preamble
The Preamble of the Reserve Bank of India
describes the basic functions of the Reserve
Bank as:
"...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."
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Central Board
The Reserve Bank's 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 Act.
Appointed/nominated for a period of four
years
Constitution:
Official Directors
Full-time : Governor and not more than four
Deputy Governors
Non-Official Directors
Nominated by Government: ten Directors
from various fields and one government
Official
Others: four Directors - one each from four
local boards
Functions : General superintendence and
direction of the Bank's affairs
SECRETARY'S DEPARTMENT
Names and addresses of the Directors of
the Central Board of the Reserve Bank of
India
1. Dr. D Subbarao
Governor
Reserve Bank of India
Central Office
Mumbai 400 001. @9. Shri H. P. Ranina
Advocate, Supreme Court of India,
506, Raheja Centre,
214 Backbay Reclamation,
Free Press Journal Road,
Mumbai - 400 023
2. Dr.K.C.Chakrabarty
Deputy Governor
Reserve Bank of India
Central Office
Mumbai 400 001. @10. Shri Azim Premji
Chairman,
WIPRO Limited
Doddakannelli,
Sarjapur Road,
Bangalore – 560033
3. Dr. Subir Gokarn
Deputy Governor
Reserve Bank of India
Central Office
Mumbai 400 001. @11. Shri Kumar Mangalam Birla
Chairman,
Aditya Birla Group of Companies
Aditya Birla Centre,
S. K. Ahire Marg, Worli
Mumbai – 400 030
4. Shri Anand Sinha
Deputy Governor
Reserve Bank of India
Central Office
Mumbai 400 001 @12. Shri Suresh Neotia
B-32, Greater Kailash Part - I
New Delhi – 110 048
5. Shri H.R.Khan
Deputy Governor
Reserve Bank of India
Central Office
Mumbai 400 001 @13. Dr. A. Vaidyanathan
B-1, Sonali Apartment, Old No. 11
Beach Road, Kalakshetra Colony
Chennai – 600 090
*6. Shri Y.H. Malegam
Chartered Accountant
C/o S. B. Billimoria & Company
Meher Chambers (2nd floor)
R. Kamani Road, Ballard Estate
Mumbai 400 001 @14. Prof. Man Mohan Sharma
2/3 Jaswant Baug (Runwal Park),
Behind Akbarallys, Chembur Naka
Mumbai – 400 071
*7. Prof. U. R. Rao
Chairman, Physical Research
Laboratory
Department of Space,
Government of India
Antariksh Bhavan, New BEL Road
Bangalore – 560 094
@15. Shri Sanjay Labroo
Managing Director & CEO
Asahi India Glass Ltd.
Global Business Park
Tower - B, 5th Floor'
Mehrauli - Gurgaon Road
Gurgaon - 122002 (Haryana)
*8. Shri Lakshmi Chand
IAS (Retd.),
C-12, Sector 14
NOIDA, Gautham Budh Nagar
Uttar Pradesh #16. Shri R. Gopalan
Secretary
Department of Economic Affairs
Government of India
Ministry of Finance
New Delhi 110001
* Directors nominated under Sect 8 (1) (b) of
the RBI Act, 1934.
@ Directors nominated under Sect 8 (1) (c)
of the RBI Act, 1934.
# Director nominated under Sect 8 (1) (d) of
the RBI Act, 1934.
Dated August 08, 2011
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Local Boards
One each for the four regions of the country
in Mumbai, Calcutta, Chennai and New Delhi
Membership:
consist of five members each
appointed by the Central Government
for a term of four years
Functions : To advise 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 Central Board
from time to time.
Names and Addresses of the Members of
The Local Boards of The Reserve Bank of
India
WESTERN AREA EASTERN AREA
1. Shri Y.H. Malegam
Chartered Accountant
c/o S.B.Billimoria & Company
Meher Chambers (2nd floor)
R. Kamani Road, Ballard Estate
Mumbai 400 001 1. Shri A. K. Saikia, Retd. IAS
H-8, Sector - 27
Noida - 201 301
2. Shri K. Venkatesan
113, F-Block
Anna Nagar East
Chennai 600 040. 2. Shri Sovan Kanungo, Retd. IAS
17/404, East End Apartments
Mayur Vihar I ( Extension )
New Delhi -110096
3. Shri Dattaraj V. Salgaocar
Managing Director
V. M. Salgaocar & Bro. Ltd.
Hira Bihar, Airport Road, Chicalim
Vasco Da Gama, Goa - 403 711
4. Shri Jayantilal B. Patel
Chairman
Sahakari Khand Udyog Mandal Ltd.
At & Post, Gandevi Sugar Factory
Taluka Gandevi, District Navsari, Via
Billimora
Gujarat
PIN-396 360
Mumbai : Dated June 27, 2011
NORTHERN AREA SOUTHERN AREA
1. Prof. U. R. Rao
Chairman,
Physical Research Laboratory,
Department of Space,
Antariksh Bhawan, New BEL Road
Bangalore – 560094 1. Shri Lakshmi Chand
Retd. IAS, C-12,
Sector – 14, Noida,
U. P. 201301
2. Dr. Ram Nath
Ex-Professor & Vice Chancellor
CSA University of Agri. & Tech.
Plot No. 710, 'A' Block, Avas Vikas
Colony, Hanspur,
Naubasta, Kanpur - 208 001 2. Shri C. P. Nair
Retd. Chief Secretaray to Government
of Kerala
Narayaneeyam, Jawahar Nagar
Thiruvananthapuram - 695 041
3. Dr. Pritam Singh
Director, Management Development
Institute
Mehrauli Road, Sukhrali
Gurgaon - 122 001 3. Dr. M. Govinda Rao
Director
National Institute of Public Finance
and Policy
18/2, Satsang Vihar Marg
Special Institutional Area (Near JNU)
New Delhi 110 067
4. Shri Kamal Kishore Gupta
Chartered Accountant
Kamal & Co.
1372, Kashmere Gate
Delhi 110006 4. Smt. Devaki Jain,
Tharangavana, D-5, 12th Cross,
RMV Extension,
Bangalore 560080
5. Shri Mihir Kumar Moitra
H-205, Wembley Estate
Rosewood City
Sector-49-50
Gurgaon-122001
Mumbai : Dated November 3, 2010
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Financial Supervision
The Reserve Bank of India performs this
function under the guidance of the Board
for Financial Supervision (BFS). The Board
was constituted in November 1994 as a
committee of the Central Board of Directors
of the Reserve Bank of India.
Objective
Primary objective of BFS is to undertake
consolidated supervision of the financial
sector comprising commercial banks,
financial institutions and non-banking
finance companies.
Constitution
The Board is constituted by co-opting four
Directors from the Central Board as
members for a term of two years and is
chaired by the Governor. The Deputy
Governors of the Reserve Bank are ex-officio
members. One Deputy Governor, usually, the
Deputy Governor in charge of banking
regulation and supervision, is nominated as
the Vice-Chairman of the Board.
BFS meetings
The Board is required to meet normally once
every month. It considers inspection reports
and other supervisory issues placed before
it by the supervisory departments.
BFS through the Audit Sub-Committee also
aims at upgrading the quality of the
statutory audit and internal audit functions
in banks and financial institutions. The audit
sub-committee includes Deputy Governor as
the chairman and two Directors of the
Central Board as members.
The BFS oversees the functioning of
Department of Banking Supervision (DBS),
Department of Non-Banking Supervision
(DNBS) and Financial Institutions Division
(FID) and gives directions on the regulatory
and supervisory issues.
Functions
Some of the initiatives taken by BFS include:
i. restructuring of the system of bank
inspections
ii. introduction of off-site surveillance,
iii. strengthening of the role of statutory
auditors and
iv. strengthening of the internal defences of
supervised institutions.
The Audit Sub-committee of BFS has
reviewed the current system of concurrent
audit, norms of empanelment and
appointment of statutory auditors, the
quality and coverage of statutory audit
reports, and the important issue of greater
transparency and disclosure in the
published accounts of supervised
institutions.
Current Focus
supervision of financial institutions
consolidated accounting
legal issues in bank frauds
divergence in assessments of non-
performing assets and
supervisory rating model for banks.
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Legal Framework
Umbrella Acts
Reserve Bank of India Act, 1934: governs
the Reserve Bank functions
Banking Regulation Act, 1949: governs the
financial sector
Acts governing specific functions
Public Debt Act, 1944/Government Securities
Act (Proposed): Governs government debt
market
Securities Contract (Regulation) Act, 1956:
Regulates government securities market
Indian Coinage Act, 1906:Governs currency
and coins
Foreign Exchange Regulation Act, 1973/
Foreign Exchange Management Act, 1999:
Governs trade and foreign exchange market
"Payment and Settlement Systems Act,
2007: Provides for regulation and
supervision of payment systems in India"
Acts governing Banking Operations
Companies Act, 1956:Governs banks as
companies
Banking Companies (Acquisition and
Transfer of Undertakings) Act, 1970/1980:
Relates to nationalisation of banks
Bankers' Books Evidence Act
Banking Secrecy Act
Negotiable Instruments Act, 1881
Acts governing Individual Institutions
State Bank of India Act, 1954
The Industrial Development Bank (Transfer
of Undertaking and Repeal) Act, 2003
The Industrial Finance Corporation (Transfer
of Undertaking and Repeal) Act, 1993
National Bank for Agriculture and Rural
Development Act
National Housing Bank Act
Deposit Insurance and Credit Guarantee
Corporation Act
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Main Functions
Monetary Authority:
Formulates, implements and monitors the
monetary policy.
Objective: maintaining price stability and
ensuring adequate flow of credit to
productive sectors.
Regulator and supervisor of the financial
system:
Prescribes broad parameters of banking
operations within which the country's
banking and financial system functions.
Objective: maintain public confidence in the
system, protect depositors' interest and
provide cost-effective banking services to
the public.
Manager of Foreign Exchange
Manages the Foreign Exchange Management
Act, 1999.
Objective: to facilitate external trade and
payment and promote orderly development
and maintenance of foreign exchange
market in India.
Issuer of currency:
Issues and exchanges or destroys currency
and coins not fit for circulation.
Objective: to give the public adequate
quantity of supplies of currency notes and
coins and in good quality.
Developmental role
Performs a wide range of promotional
functions to support national objectives.
Related Functions
Banker to the Government: performs
merchant banking function for the central
and the state governments; also acts as their
banker.
Banker to banks: maintains banking
accounts of all scheduled banks.
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Offices
Has 22 regional offices, most of them in
state capitals.
Training Establishments
Has six training establishments
Three, namely, College of Agricultural
Banking, Bankers Training College and
Reserve Bank of India Staff College are part
of the Reserve Bank
Others are autonomous, such as, National
Institute for Bank Management, Indira
Gandhi Institute for Development Research
(IGIDR), Institute for Development and
Research in Banking Technology (IDRBT)
For details on training establishments,
please check their websites links for which
are available in Other Links.
Subsidiaries
Fully owned: National Housing Bank(NHB),
Deposit Insurance and Credit Guarantee
Corporation of India(DICGC), Bharatiya
Reserve Bank Note Mudran Private
Limited(BRBNMPL)
Majority stake: National Bank for
Agriculture and Rural Development
(NABARD)
The Reserve Bank of India has recently
divested its stake in State Bank of India to
the Government of India.