Branches of RBI

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The Reserve Bank of India (RBI) has established four regional representations in different parts of the country. These representations are located in New Delhi (North), Chennai (South), Kolkata (East), and Mumbai (West). Each representation is comprised of five members who are appointed by the central government for a term of four years. These members, with the advice of the central board of directors, serve as a platform for regional banks and are responsible for handling delegated tasks from the Central Board.

RBI Branches and Training Colleges

The RBI operates 31 branches across India. Most of these branches are located in capital cities, except for two exceptions. The first exception is the Nagpur Reserve Bank branch, which serves as the second capital of Maharashtra. It was established in 1956. The second exception is the Ahmedabad Reserve Bank branch, established in 1950.

To train its officers, the RBI has three training colleges: Reserve Bank Staff College in Chennai, Reserve Bank of India Academy in Mumbai, and Reserve Bank of India College of Agricultural Banking in Pune. Additionally, there are three autonomous institutions under the RBI’s purview: the National Institute of Bank Management (NIBM), the Indira Gandhi Institute of Development Research (IGIDR), and the Institute for Development and Research in Banking Technology (IDRBT). The RBI also operates four zonal training centers in Mumbai, Chennai, Kolkata, and New Delhi.

Board of Financial Supervision and Tarapore Committee

The Board of Financial Supervision (BFS) was established in November 1994 and operates as a committee under the Central Board for Banking Supervision (CCBS). The BFS consists of four members who are appointed for a term of two years. Its primary role is to control and supervise financial institutions. The BFS takes measures to strengthen the role of statutory auditors in the financial sector and improves external monitoring and internal control systems.

The Tarapore committee was set up by the RBI to create a roadmap for capital account convertibility. The committee, chaired by former RBI deputy governor S. S. Tarapore, recommended a three-year timeframe for achieving complete convertibility by 1999-2000.

Expansion to Arunachal Pradesh

In December 2017, it was announced by Surekha Marandi, executive director of the RBI, that the bank will open an office in the northeastern state of Arunachal Pradesh. This move aims to further extend the presence of the RBI and its services in the region.