****Basic Facts Of RBI****


√√*The Reserve Bank of India was set up on the basis of the recommendations of the ->HiltonYoung Commission
√√*Reserve Bank of India started its operations on 01 Apr 1935
√√*Reserve Bank was nationalised in 1949
√√*The first Governor of Reserve Bank of India was --> Sir Osborne Smith
√√*The first Indian Governor of Reserve Bank of India was -->Shri CD Deshmukh
√√*The two Governors who have later held the post of the finance minister of India are -->Shri CD Deshmukh & Dr.Manmohan Singh
√√*The maximum number of Deputy Governors RBI can have 4 [Four]
√√*Number of regional offices of RBI 28RBI can issue notes upto the value of Rs. 10,000/-
√√*As per Indian Coinage Act 1 Re coins can be used to pay/settle-->Any amount

√√*As per Indian Coinage Act 0.50 ps coins can be used to pay/settle -->Amount not exceeding Rs. 10.
√√*As per Indian Coinage Act coins worth less than 0.50 ps can be used to pay/settle --> Amount not exceeding Re. 1.(no longer applicable)
√√*The logo of RBI has A palm tree and a tiger
√√*The H.O [Head office ] of the RBI is in Mumbai
√√*The maximum amount for which customer's deposit is insured in a bank -->Rs. 1,00,000

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