Structure of RBI
The Reserve Bank of India is wholly owned by the Government of India. The structure of RBI is as follows:
Central Board of Directors
At the apex is the Central Board of Directors, which is made of official directors and Non-official directors.
The Governor and Deputy Governor of RBI are its full time official directors. There is one Governor appointed and maximum four deputy governors. Governor and Deputy governors are appointed by Central Government. The tenure of service is maximum of 5 years or till the age of 62 whichever is earlier.
There are 16 non-official directors in RBI. Out of them, there are 4 Non-official Directors represent the local Boards located in Delhi, Chennai, Kolkata and Mumbai representing 4 regions of India. Rest 10 Non-official directors are nominated by the Reserve Bank of India. These 10 personalities have expertise in various segments of Indian Economy.
The Central Board of Directors holds minimum 6 meetings every year. Out of which, at least 1 meeting every quarter is held. Though, typically the committee of the central board meets every week (Wednesday).
There are four local boards of RBI located in Chennai, Kolkata, Mumbai and New Delhi. These four local boards represent four regions of the country. Members and directors of local boards are appointed by central government for four-year terms. The local boards represent regional and economic interests and the interests of co-operative and indigenous banks.
Reserve Bank of India has 26 departments which focus on policy issues in the Reserve Bank’s functional areas and internal operations.
Regional Offices and Sub-offices
There are 19 regional offices and 9 sub-offices of RBI. Most of the 19 regional offices are located in state capitals.
The training centres of RBI are as follows:
- The Reserve Bank Staff College, Chennai
- College of Agricultural Banking at Pune
- Zonal Training Centres, located at regional offices, train non-executive staff.
Apart from that following are RBI funded Research Institutions:
- National Institute of Bank Management (NIBM) : Pune,
- Indira Gandhi Institute of Development Research (IGIDR) : Mumbai
- Institute for Development and Research in Banking Technology (IDRBT) : Hyderabad.
RBI has following subsidiaries
- Deposit Insurance and Credit Guarantee Corporation,DICGC
- National Housing Bank
- Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)