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Evolution OF Reserve Bank Of India

19351950
The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after
the First World War RBI was conceptualized as per the guidelines, working style and outlook
fpresented by Dr Ambedkar.

19601969
In the 1950s the Indian government, under its first Prime Minister Jawaharlal Nehru, developed a
centrally planned economic policy that focused on the agricultural sector. Furthermore, the
central bank was ordered to support the economic plan with loans.

19691985
In 1969, the Indira Gandhi-headed government nationalized 14 major commercial banks. Upon
Gandhi's return to power in 1980, a further six banks were nationalized.

19851991
A lot of committees analysed the Indian economy between 1985 and 1991. Their results had an
effect on the RBI.

19912000
The national economy came down in July 1991 and the Indian rupee was devalued. The
currency lost 18% relative to the US dollar, The National Stock Exchange of India took the trade
on in June 1994 and the RBI allowed nationalized banks in July to interact with the capital market
to reinforce their capital base. The central bank founded a subsidiary companythe Bharatiya
Reserve Bank Note Mudran Private Limitedin February 1995 to produce banknotes.

Since 2000
The national economy's growth rate came down to 5.8% in the last quarter of 20082009 and the
central bank promotes the economic development. In August 2014, The RBI has introduced a
liquidity framework for cash management to ensure reduced volatility. It has informally
communicated to banks asking them to manage their treasury operations.

Commercial Banks
Banks have developed around 200 years ago. The natures of banks have changed as the time has
changed. The term bank is related to financial transactions. It is a financial establishment which uses,
money deposited by customers for investment, pays it out when required, makes loans at interest
exchanges currency etc. however to understand the concept in detail we need to see some of its
definitions. Many economists have tried to give different meanings of the term bank.

Definitions
According to the Indian Banking Company Act 1949, "A banking company
means any company which transacts the business of banking . Banking means
accepting for the purpose of lending of investment of deposits of money from
the public, payable on demand or other wise and withdraw able by cheque,
draft or otherwise."

Examples..

Assignment
On
Banking Law And Practice
By:Submitted to:

Asim Alvi

Smita Mam

BBA FINAL YEAR

Assignment
On
Banking Law And Practice
By:Submitted to:

Kapil Sonkar

Smita Mam

BBA FINAL YEAR

Assignment
On
Banking Law And Practice
By:Submitted to:

Vicky Gupta

Smita Mam

BBA FINAL YEAR