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RBI is the Central Bank of India, which acts as a banker to the government
It is also called as Bankers bank, because all banks will have accounts with RBI.
It provides funds to all banks hence it is called as BANKERS BANK
It has four zonal offices at Mumbai, Kolkata, Chennai and Delhi and 19 regional offices
Current Governor: Dr. Raghuram Rajan
Deputy Governors: H R Khan, Dr Urjit Patel, R Gandhi and S S Mundra
Head office: Mumbai
Functions:
New Private Sector Banks: Banks which came in operation after 1991, with the introduction of economic
and financial sectors reforms are called new private-sector banks
Within 3 years of the starting of the operations, the bank should offer shares to public and their
net worth must increased to 300 Crores.
New private-sector banks in India are Axis Bank, Bank of Punjab, Centurian Bank,
Development Credit Bank, SBI Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Yes
Bank, Times Bank (Merged with HDFC Bank Ltd.), Global Trust Bank (Merged with Oriental
Bank of Commerce), Balaji Corporation Bank Limited
Foreign Banks:
Banks which are foreign originated are called foreign banks
Regional Rural Banks (RRBS)
Main aim of RRBs is financial resources for rural/semi-urban areas and providing loans to
small and marginal farmers, agricultural labourers and rural artisans.
RRB works under supervision of NABARD (National Bank for Agricultural and Rural
Development)
Functions of RRBs:
Some of the Industrial banks are IDBI bank, Industrial bank of India etc.