International Monetary Fund

After World War II International Monetary Fund is the second International Organisation.

International Monetary Fund is a financial institution.

IMF

Headquarter:  Washington DC

Managing Director: Kristalina Georgieva

Member:  190 member

Official language: English

Parent organization: United Nations

After the Great Depression of 1930, the International Monetary Fund was established in 1944.

France was the first country to borrow from IMF.

Purpose: International Monetary Fund do three main functions follow -

 *Surveillance

*Financial assistance

*Technical assistance

History: The International Monetary Fund officially came into existence in 1945 with 29 member countries.

The IMF was created in 1944 at the Bretton Woods conference to rebuild Europe after World War II.

Reserve Bank of India

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.

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.

Parliament of India

The Parliament of India is the highest legislative body of the Republic of India. It is a bicameral legislature composed of the President of India and the two Houses: the Rajya Sabha and the Lok Sabha.

Parliament of India, Founded-26th Nov 1950, New Delhi

The total number of seats in Parliament is 788 including 245 Rajya Sabha (Upper House) and 543 Lok Sabha(Lower House). Article 79 to 122 in Part V of the constitution deal with the Parliament.

Though the President is not a member of either of the House, he is an integral part of it. This is because despite a Bill passed by both house can not become a law without the assent of the President.