RBI Committees and Heads List for 2016

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Reserve Bank of India (RBI) has Issued the Official Notification of along with their heads and Report Submission Dates. This Notification will be helpful for your upcoming SBI and IBPS Banking Examinations So Full Details now Available from the Official website of Reserve Bank of India or Check the link given below.

Direct Recruitment

Committee on
Date
Chairman /Convenor
Working Group on Import Data Processing and Monitoring System
April 2016
A. K. Pandey
Working Group on Interest Rate Options
February 2016
P. G. Apte
Advisory Committee on Ways and Means Advances to State Governments
January 2016
Sumit Bose
Committee on Medium-term Path on Financial Inclusion
December 2015
Deepak Mohanty
Committee on Differential Premium System for Banks in India
September 2015
Jasbir Singh
Working Group on Compilation of Flow of Funds Accounts for Indian Economy
August 2015
D. K. Mohanty
Compilation of Flow of Funds Accounts of the Indian Economy
August 2015
D. K. Mohanty
High Powered Committee on Urban Co-operative Banks (UCBs)
June 2015
R. Gandhi
Committee on Data Standardization
March 2015
LP. Parthasarathi
Internal Working Group (IWG) to Revisit the Existing Priority Sector Lending Guidelines
March 2015
Lily Vadera
Committee on Capacity Building in Banks and Non-Banks
September 2014
G. Gopalakrishna
Committee on Implementation of Counter-cyclical Capital Buffer
July 2014
B. Mahapatra

Committee on
Date
Chairman /Convenor
Committee on Data and Information Management in the Reserve Bank of India
July 2014
D. K. Mohanty
Committee on Productivity Growth for the Indian Economy
June 2014
B. N. Goldar
Committee to Review Governance of Boards of Banks in India
May 2014
P. J. Nayak
Working Group on Resolution Regime for Financial Institutions
May 2014
Anand Sinha
GIRO Advisory Group
April 2014
Umesh Bellur
Group on Enabling PKI in Payment System Applications
April 2014
Anil Kumar Sharma
Working Group on Pricing of Credit
April 2014
Anand Sinha
Committee to Recommend Data Format for Furnishing of Credit Information to Credit Information Companies
March 2014
Aditya Puri
Implementation Group on OTC Derivatives Market Reforms
March 2014
R. Gandhi
Committee on Financial Benchmarks
February 2014
P. Vijaya Bhaskar
Technical Committee on Mobile Banking
February 2014
B. Sambamurthy
Technical Committee on Enabling Public Key Infrastructure (PKI) in Payment System Applications
February 2014
Anil Kumar Sharma
Committee to Revise and Strengthen the Monetary Policy Framework
January 2014
Nachiket Mor

Committee on
Date
Chairman /Convenor
Committee on Financial Benchmarks
January 2014
P. Vijaya Bhaskar
Committee to review the form of presentation of the Balance Sheet and Profit and Loss Account
June 2013
Y. H. Malegam
Committee to Study the Feasibility of Implementation of GIRO Based Payment System in India
May 2013
G. Padmanabhan
Committee on Licensing of New Urban Co-operative Banks
September 2011
Y. H. Malegam
Committee on Issues and Concerns in the NBFC Sector
August 2011
Usha Thorat

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About RBI : 
The Reserve Bank of India (RBI, Hindi:भारतीय रिज़र्व बैंक) is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949.

The RBI plays an important part in the Development Strategy of the Government of India. It is a member bank of the Asian Clearing Union. The general superintendence and direction of the RBI is entrusted with the 21-member Central Board of Directors: the Governor, 4 Deputy Governors, 2 Finance Ministry representatives, 10 government-nominated directors to represent important elements from India's economy, and 4 directors to represent local boards headquartered at Mumbai, Kolkata, Chennai and New Delhi. Each of these local boards consists of 5 members who represent regional interests, and the interests of co-operative and indigenous banks.

The bank is also active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion (AFI).

History : 
The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the First World War. The Reserve Bank of India was conceptualized based on the guidelines presented by Dr. Ambedkar to the "Royal Commission on Indian Currency & Finance” in 1925; Commission members found Dr B. R. Ambedkar’s book "The Problem of the Rupee- Its origin and Its Solution” an invaluable reference tool and the Central Legislative Assembly eventually passed these guidelines as the RBI Act 1934. The bank was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance, also known as the Hilton–Young Commission. The original choice for the seal of RBI was The East India Company Double Mohur, with the sketch of the Lion and Palm Tree. However it was decided to replace the lion with the tiger, the national animal of India. The Preamble of the RBI describes its basic functions to regulate the issue of bank notes, keep reserves to secure monetary stability in India, and generally to operate the currency and credit system in the best interests of the country. The Central Office of the RBI was established in Calcutta (now Kolkata), but was moved to Bombay (now Mumbai) in 1937. The RBI also acted as Burma's central bank, except during the years of the Japanese occupation of Burma (1942–45), until April 1947, even though Burma seceded from the Indian Union in 1937. After the Partition of India in 1947, the bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations. Though set up as a shareholders’ bank, the RBI has been fully owned by the Government of India since its nationalization in 1949

Structure of RBI : 
The Central Board of Directors is the main committee of the Central Bank. The Government of India appoints the directors for a 4-year term. The Board consists of a Governor, and not more than 4 Deputy Governors, 4 Directors to represent the regional boards, 2 from the Ministry of Finance and 10 other directors from various fields. RBI wants to create a post of Chief Operating Officer (COO) and re-allocate work between the five of them(4 Deputy Governor and COO).

The bank is headed by the Governor and the post is currently held by economist Raghuram Rajan. There are 4 Deputy Governors H R Khan, Dr Urjit Patel, R Gandhi and S S Mundra. Two of the four Deputy Governors are traditionally from RBI ranks, and are selected from the Bank's Executive Directors. One is nominated from among the Chairpersons of public sector banks and the other is an economist. An Indian Administrative Service officer can also be appointed as Deputy Governor of RBI and later as the Governor of RBI as with the case of Y. Venugopal Reddy. Other persons forming part of the central board of directors of the RBI are Dr. Nachiket Mor, Y C Deveshwar, Prof Damodar Acharya, Ajay Tyagi and Anjuly Duggal.

Branches and support bodies: 
The Reserve Bank of India has four zonal offices at Chennai, Delhi, Kolkata and Mumbai. It has 19 regional offices and 10 sub-offices. Regional offices are located in Ahmedabad, Bangalore, Bhopal, Bhubaneswar, Chandigarh, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Jammu, Kanpur, Kochi, Kolkata, Lucknow, Mumbai, Nagpur, Patna and Thiruvananthapuram. It also has 9 sub-offices located in Agartala, Dehradun, Gangtok, Panaji, Raipur, Ranchi, Shillong, Shimla and Srinagar. Recently the RBI has opened two more sub-offices at Aizawal and Imphal.

The Reserve Bank of India has four regional representations: North in New Delhi, South in Chennai, East in Kolkata and West in Mumbai. The representations are formed by five members, appointed for four years by the central government and serve—beside the advice of the Central Board of Directors—as a forum for regional banks and to deal with delegated tasks from the central board.

The bank has also two training colleges for its officers, viz. Reserve Bank Staff College, Chennai and College of Agricultural Banking, Pune. There are three autonomous institutions run by RBI namely National Institute of Bank Management (NIBM), Indira Gandhi Institute of Development Research (IGIDR), Institute for Development and Research in Banking Technology (IDRBT). There are also four Zonal Training Centres at Mumbai, Chennai, Kolkata and New Delhi.

The Board of Financial Supervision (BFS), formed in November 1994, serves as a CCBD committee to control the financial institutions. It has four members, appointed for two years, and takes measures to strength the role of statutory auditors in the financial sector, external monitoring and internal controlling systems. The Tarapore committee was set up by the Reserve Bank of India under the chairmanship of former RBI deputy governor S.S.Tarapore to "lay the road map" to capital account convertibility. The five-member committee recommended a three-year time frame for complete convertibility by 1999–2000. On 1 July 2007, in an attempt to enhance the quality of customer service and strengthen the grievance redressal mechanism, the Reserve Bank of India created a new customer service department.
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