Banking Awareness : Reserve Bank of India Structure

Hello Readers, Today at LOUD STUDY, we will deal with the topic Reserve Bank of India Structure

Reserve Bank of India Structure is an important topic keeping in mind about different questions asked in various government and banking sector exams

Reserve Bank of India Structure is comprised of 21 Board of Members and these are appointed by Government of India keeping in mind RBI Act

Directors in RBI are appointed under Section 8 ( 1 ) of RBI Act,1934

The Reserve Bank’s affairs are governed by central board of directors i.e these 21 Board of Members

In 21 Board of Members,

5 are official directors :

1 Governor and 4 Deputy Governor,

16 non-official directors :

2 government officials i.e. Economic Affairs Secretary and Financial Affairs Secretary,

4 members from four different local boards one each for the four Local Boards of the country in Mumbai, Calcutta, Chennai and New Delhi

10 members appointed by government from different fields

Note : All members in RBI Board of Directors are appointed for a period of 4 years

Currently Governor of RBI is Dr. Urjit R. Patel ( 24th Governor of RBI )

4 Deputy Governors of RBI are Shri N. S. Vishwanathan, Dr. Viral V. Acharya, Shri B.P. Kanungo and Shri Mahesh Kumar Jain

Economic Affairs Secretary is Subhas C. Garg and Financial Affairs Secretary is Rajiv Kumar

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