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Banking and Reserve Bank of India | Kerala PSC LDC

8 facts. Swipe through the cards.

Fact 1 of 8
RBI's birthday: 1 April 1935
The Reserve Bank of India began operations on 1 April 1935 under the RBI Act, 1934. It was set up on the recommendation of the Hilton Young Commission.
Fact 2 of 8
RBI was once a private bank
The RBI started as a shareholders' bank. It was nationalised on 1 January 1949 and has been fully owned by the Government of India since then.
Fact 3 of 8
From Osborne Smith to C.D. Deshmukh
Sir Osborne Smith was the first Governor of the RBI. C.D. Deshmukh was its first Indian Governor, and he later became India's Finance Minister.
Fact 4 of 8
RBI started in Calcutta
The RBI's central office was first set up in Calcutta (Kolkata). It moved permanently to Bombay (Mumbai) in 1937.
Fact 5 of 8
14 banks nationalised in one day
On 19 July 1969, Indira Gandhi's government nationalised 14 major commercial banks. Six more banks were nationalised in 1980.
Fact 6 of 8
SBI was born from the Imperial Bank
The State Bank of India was formed on 1 July 1955 by taking over the Imperial Bank of India. It is the country's largest commercial bank.
Fact 7 of 8
The PM who was RBI Governor
Dr. Manmohan Singh served as RBI Governor from 1982 to 1985. He is the only person to have headed the RBI and also become Prime Minister of India.
Fact 8 of 8
The note the RBI Governor doesn't sign
The one-rupee note is issued by the Government of India, so it carries the Finance Secretary's signature. Every other banknote is signed by the RBI Governor.

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RBI's birthday: 1 April 1935