A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and in some cases also to enforce policies on financial consumer protection and against bank fraud, money laundering, or terrorism financing.
In macroeconomics, the money supply refers to the total volume of money held by the public at a particular point in time. There are several ways to define "money", but standard measures usually include currency in circulation and demand deposits. Money supply data is recorded and published, usually by the national statistical agency or the central bank of the country. Empirical money supply measures are usually named M1, M2, M3, etc., according to how wide a definition of money they embrace. The precise definitions vary from country to country, in part depending on national financial institutional traditions.
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt.
The Reserve Bank of India, abbreviated as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Mysore and Salboni. The RBI, along with the Indian Banks' Association, established the National Payments Corporation of India to promote and regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialized division for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.
The Singapore dollar is the official currency of the Republic of Singapore. It is divided into 100 cents. It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. The Monetary Authority of Singapore (MAS) issues the banknotes and coins of the Singapore dollar.
The Indian rupee is the official currency in India. The rupee is subdivided into 100 paise. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934.
The Pakistani rupee is the official currency in the Islamic Republic of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan. It was officially adopted by the Government of Pakistan in 1949. Earlier the coins and notes were issued and controlled by the Reserve Bank of India until 1949, when it was handed over to the Government and State Bank of Pakistan, by the Government and Reserve Bank of India.
The Bangko Sentral ng Pilipinas is the central bank of the Philippines. It was established on July 3, 1993, pursuant to the provision of Republic Act 7653 or the New Central Bank Act of 1993 as amended by Republic Act 11211 or the New Central Bank Act of 2019. The principal author was Senator Franklin Drilon. It was signed by President Rodrigo Duterte.
Coins of the Indian rupee (₹) were first minted in 1950. New coins have been produced annually since then and they make up a valuable aspect of the Indian currency system. Today, circulating coins exist in denominations of One Rupee, Two Rupees, Five Rupees, Ten Rupees and Twenty Rupees. All of these are produced by four mints located across India, in Kolkata, Mumbai, Hyderabad, Noida.
The history of the rupee traces back to ancient times in the Indian subcontinent. The mention of rūpya by Pāṇini is seemingly the earliest reference in a text about coins. The term in Indian subcontinent was used for referring to a coin.
HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai. It is India's largest private sector bank by assets and the world's fifth-largest bank by market capitalization as of August 2023, following its takeover of parent company HDFC. Due to its size, it has been categorized as a Domestic Systemically Important Bank (D-SIB) by the Reserve Bank of India. The bank was incorporated in August 1994 after its erstwhile parent HDFC received an 'in principle' approval from the RBI to set up a bank in the private sector, as part of its liberalization of the Indian banking industry, and commenced operations in January 1995. With a market capitalization of $165 billion, HDFC Bank is the third-largest company on Indian stock exchanges. It is also the sixteenth largest employer in India with nearly 1.73 lakh employees.
Maidavolu Narasimham was an Indian banker who served as the thirteenth governor of the Reserve Bank of India (RBI) from 2 May 1977 to 30 November 1977. For his contributions to the banking and financial sector in India, he is often referred to as the father of banking reforms in India. Some of the reforms attributed to his recommendations include changes to banking structures, introduction of private sector banks, creation of asset recovery funds, rural banking, changes to capital adequacy and provisioning standards, technology upgradation and modernization of public sector banks, and capital market linked banking reforms.
The United States dollar is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color.
The National Numismatic Collection is the national coin cabinet of the United States. The collection is part of the Smithsonian Institution's National Museum of American History.
The Indian 10-rupee coin is a denomination of the Indian rupee. The ₹10 coin is the second highest-denomination coin minted in India since its introduction in 2005. The present ₹10 coin in circulation is from the 2019 design. However, the previous ₹10 coins minted before 2019 are also legal tender in India. All ₹10 coins containing with and without the rupee currency sign are legal tender, as stated by the Reserve Bank of India. Along with the standard designs, there are 4 different designs for this denomination and this is used alongside the 10 rupee banknote.
The Indian paisa is a 1⁄100 (one-hundredth) subdivision of the Indian rupee. The paisa was first introduced on 1 April 1957 after decimalisation of the Indian rupee.
The Monetary Policy Committee is responsible for fixing the benchmark interest rate in India. The meetings of the Monetary Policy Committee are held at least four times a year and it publishes its decisions after each such meeting.
Shaktikanta Das is serving as the current & 25th governor of the Reserve Bank of India (RBI). He was earlier a member of the Fifteenth Finance Commission and India's Sherpa to the G20. Das is a retired 1980 batch Indian Administrative Service (IAS) officer of Tamil Nadu cadre.
The Currency Building is an early 19th-century building in the B. B. D. Bagh central business district of Kolkata in West Bengal, India. The building was originally built in 1833 to house the Calcutta branch of the Agra Bank. In 1868, it was converted for use by the Office of the Issue and Exchange of Government Currency, an office of the Controller of the Currency under the British Raj. From 1935 until 1937, the Reserve Bank of India (RBI) used the building as its first central office. The building remained in use, and was used at one time by the Central Public Works Department (CPWD) as a storehouse. Authorities decided to demolish it in 1994.
The Calcutta Bank was a bank founded in the year 1824 in British India. The bank was the twelfth oldest bank in India.
