RBI is the central bank of India it controls issues and money flow in the market.RBI regulates the entire banking system in India. RBI was set up on 1st April 1935 under the Reserve Bank of India Act,1934.RBI has one governor and four Deputy-governor. A British banker Osborn Smith who was the first governor of RBI while C.D Deshmukh was the first Indian governor of RBI.
RBI has the power to print Note by RBI Act 1934, section 22. Bharatiya Reserve Bank Note Mudran Private Ltd is a subsidiary of the RBI which prints banknotes for RBI.RBI can print Rs10,000 at a time but if prints more than limit then it needs to amend RBI act 1934. In India, there have four currency note printing presses. Government of India controls Nashik in Maharastra, Dewas in MP, and the other two Mysuru in Karnataka and Salboni in WB control by RBI subsidiary- Bharatiya Reserve Bank Note Mudran Private LTD. RBI has a sole right to issue currency notes except one rupee notes. The one rupee note issued by the Ministry of Finance and it bears the signature of Finance Secretary, while other notes bear the signature of RBI Governor.
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| Reserve Bank of India, Mumbai, Maharastra, India |
RBI has the power to print Note by RBI Act 1934, section 22. Bharatiya Reserve Bank Note Mudran Private Ltd is a subsidiary of the RBI which prints banknotes for RBI.RBI can print Rs10,000 at a time but if prints more than limit then it needs to amend RBI act 1934. In India, there have four currency note printing presses. Government of India controls Nashik in Maharastra, Dewas in MP, and the other two Mysuru in Karnataka and Salboni in WB control by RBI subsidiary- Bharatiya Reserve Bank Note Mudran Private LTD. RBI has a sole right to issue currency notes except one rupee notes. The one rupee note issued by the Ministry of Finance and it bears the signature of Finance Secretary, while other notes bear the signature of RBI Governor.
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