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  1. 31. März 2024 · Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937. A professional banker, he served for over 20 years with the Bank of New South Wales and 10 years with the Commonwealth Bank of Australia before coming to India in 1926 as managing governor of Imperial Bank of India.

  2. 5. Apr. 2024 · They established three major banks: Bank of Bombay, Bank of Madras, and Bank of Bengal. The three banks were later known as Imperial Bank of India after the merger. The Imperial Bank of India was nationalised in 1955 after independence. It was named as the State Bank of India. It is still the largest public sector bank in India.

  3. 2. Apr. 2024 · The Bank began its operations by taking over from the Government the functions so far being performed by the Controller of Currency and from the Imperial Bank of India, the management of Government accounts and public debt. The existing currency offices at Calcutta, Bombay, Madras, Rangoon, Karachi, Lahore and Cawnpore (Kanpur) became branches of the Issue Department. Offices of the Banking ...

  4. 1. Apr. 2024 · India’s foreign exchange reserves hit a nadir to sustain only two weeks of imports. To save the country from this crisis, the RBI had to airlift 47 tonnes of gold to the Bank of England and 20 ...

  5. 28. März 2024 · Reserve Bank of India The RBI was established based on Hilton Young Commission's recommendations. Established in 1935 under the Reserve Bank of India Act. Initially privately owned, but nationalized in 1949. The first Governor of the RBI was the Australian Sir Osborne Arkell Smith, one of the two managing governors of the Imperial Bank of India.

  6. 2. Apr. 2024 · The Reserve Bank of India (RBI), which was established on April 1, 1935, is responsible for monetary stability, currency management, inflation targeting, regulating the banking system, and setting interest rates. The central bank’s story of the last 90 years includes ups and downs, but has generally been one of stellar achievement.