The Reserve Bank of India, abbreviated as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. Owned by the 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.
Agra is a city on the banks of the Yamuna river in the Indian state of Uttar Pradesh, about 230 kilometres (140 mi) south-east of the national capital Delhi and 330 km west of the state capital Lucknow. With a population of roughly 1.6 million, Agra is the fourth-most populous city in Uttar Pradesh and twenty-third most populous city in India.
Events in the year 1889 in India.
Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791.
Sir John Strachey was a British civil servant and writer in India who served as Lieutenant-Governor of the North-Western Provinces from 1874 to 1876. He was briefly acting Governor-General in February 1872, before being replaced by the more appropriate Lord Napier who acted for the remainder of time until Lord Northbrook arrived.
Raghuram Govind Rajan is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago's Booth School of Business. Between 2003 and 2006 he was Chief Economist and director of research at the International Monetary Fund. From September 2013 through September 2016 he was the 23rd Governor of the Reserve Bank of India. In 2015, during his tenure at the RBI, he became the Vice-Chairman of the Bank for International Settlements.
A Subah was the term for a province (state) in the Mughal Empire. The term was also used by other polities of the Indian subcontinent. The word is derived from Arabic and Persian. The governor/ruler of a Subah was known as a subahdar, which later became subedar to refer to an officer in the Indian Army and Pakistan Army. The subahs were established by badshah (emperor) Akbar during his administrative reforms of the years 1572–1580; initially, they numbered 12, but his conquests expanded the number of subahs to 15 by the end of his reign. Subahs were divided into Sarkars, or districts. Sarkars were further divided into Parganas or Mahals. His successors, most notably Aurangzeb, expanded the number of subahs further through their conquests. As the empire began to dissolve in the early 18th century, many subahs became effectively independent or were conquered by the Marathas or the British.
The Bank of Calcutta was founded on 2 June 1806, mainly to fund General Arthur Wellesley's wars against Tipu Sultan and the Marathas. It was the tenth oldest bank in India and was renamed Bank of Bengal on 2 January 1809.
IndusInd Bank Limited is an Indian financial services headquartered in Mumbai (Maharashtra). IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh.
The Nath Bank was an Indian-owned bank founded by Kshetra Nath Dalal in 1926 in Noakhali, now in Bangladesh but then in undivided India. By 1947, when the Partition of India was imminent, the bank had its head office and three branches in Noakhali district, and a branch in Comilla in Tipperah District. Noakhali and Tipperah districts became part of Pakistan, so the bank moved its head office to Kolkata. At that time, Indian banks were facing asevere crisis. In 1949, the Nath Bank had to be bailed out by the Reserve Bank of India. That failed to resolve the crisis and the bank was finally liquidated in 1950. The economist Arun Ghosh attributes its collapse to its over-aggressive expansion of branch banking. The failure of the bank created a panic among depositors.
This list details events in the year 1838 in India. Major events include the Agra famine of 1837-38, and the founding of the Times of India on 3 November.
Agra Bank was an Indian bank that was founded in 1833 in Agra, with a capital of £1,000,000 and was finally liquidated in 1900.
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 Government Savings Bank (1833) was an Indian bank founded in 1833 in British India and operated until it was liquidated in 1843. The bank was the fifteenth oldest bank in India.
The Bank of Upper India (1863) was a bank founded in the year 1863 in British India. The bank became defunct in the year 1913, when it was acquired by the Alliance Bank of Simla.
The Cawnpore Bank (1845) was an Indian bank that operated between 1845 and 1852 in British India. It was founded in the year 1845 under the company rule in India and became defunct in the year 1852 with the winding down of its operations. The bank was notable for being the thirty first oldest bank in India.
The Benares Bank (1844) was a bank founded in the year 1844 in British India. The bank became defunct in the year 1850 with the winding down of its operations. The bank was notable for being the twenty eighth oldest bank in India.
The Simla Bank Limited (1844) was a bank founded in the year 1844 in British India. The bank became defunct in the year 1893 with the winding down of its operations. The bank was notable for being the twenty ninth oldest bank in India.
