SUBSIDIARIES OF RESERVE BANK OF INDIA -- IBPS PO /CLERKS/ SSCGL/IAS/PRIVATE SECTOR BANKS

Subsidiaries of RBI

There are Mainly Four Subsidiaries of RBI which are as following -:

National Housing Bank (NHB)Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)National Bank for Agriculture and Rural Development (NABARD)Deposit Insurance and Credit Guarantee Corporation (DICGC)

National Housing Bank (NHB)

NHB Registers, Regulates and Supervises Housing Finance company(HFCs).

1. Headquarters – New Delhi

2. MD & CEO – Sriram Kalyanaraman

3. Established – 9 July 1988 under the NHB Act 1987

Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)

BRBNMPL is the one of the subsidiaries of Reserve Bank of India which prints bank notes (Indian rupees) for Reserve Bank of India (RBI).

1. Headquarters – Bengaluru

2. Established – 3 Feb 1995, The BRBNMPL has been registered as a public Limited company under The Companies Act, 1956.

3. It has Two Presses in Mysore (Karnataka) and Salbboni (west Bengal). Dewas also Prints bank notes RBI.

National Bank for Agriculture and Rural Development (NABARD)

NABARD is an apex development bank in India.The Bank has been entrusted with matters concerning policy, planning and operations in the field of credit for agriculture and other economic activities in rural areas in India. NABARD is empowered to inspect the conduct of state and central cooperative Banks. The RRBs also Falls under its supervision.

1. Headquarters – Mumbai

2. Chairman – Dr. Harsh Kumar Bhanwala

3. Established – 12 July 1982 under the NABARD ACT, 1981

4. Committee – Shri B. Sviaraman Recommendate to setup NABARD

5. RBI share in NABARD is 0.40% and Government of India has 99.60% share in NABARD.

6. Capital Required to setup NABARD is Rs 500 Crore.

7. Initial amount for NABARD is Rs 100 Crore.

Deposit Insurance and Credit Guarantee Corporation (DICGC)

1. Established – 15 July 1978 under DICGC Act 1961

2. DICGC insures all bank Deposits such as Saving, Fixed, Current, Recurring deposits For up to the limit of Rs 100,000 of each deposits in a bank.

3. The authorized capital of the corporation is Rs 50 crore.

4. All commercial banks including branches of foreign banks functioning in India, local area banks & regional rural banks are insured by the DICGC.

5. Primary cooperative societies are not insured by the DICGC.

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