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Shaktikanta Das, the 25th governor of RBI who succeeds Urjit Patel

RBI commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India’s independence on 15 August 1947, the RBI was nationalised on 1 January 1949

Loan is an asset in the balance sheet of bank. Loan creates return to a bank. however, deposit is regarded as liability to a bank as it must pay rate of interest to depositors.

Reserve Bank of India (RBI) started in 1926 when the Hilton-Young Commission or the Royal Commission on Indian Currency and Finance made recommendation to the British Government of India for creation of a central bank.

Repo rate -the rate at the which the central bank lends short-term money to banks. Reverse repo rate is the rate offered by the RBI to commercial banks when they parked their excess reserves with the RBI. Both instruments come under LAF.

The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act. the current Chairperson is Janet Yellen

State Bank of India is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. SBI first merged State Bank of Saurashtra with itself in 2008. Two years later, State Bank of Indore was merged with it. The latest merger of State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala (SBP), State Bank of Hyderabad (SBH) and BMB.

Indo-Nigerian Merchant Bank Limited’s pricipal activity is the provision of merchant banking services mainly to corporate clients. The Banks’s services include the granting of loans and advances, equipment leasing, corporate finance activities, financial advisory services and foreign exchange operations.

Fixed deposit investors with a higher rate of interest than a regular savings account. The lowest interest to current deposit holders.

The Comptoir national d’escompte de Paris, formerly the Comptoir d’escompte de Paris was one of four banks that combined to form BNP Paribas. The CNEP was created by decree on 7 March 1848 by the Provisional Government of the French Second Republic.

14 banks were nationalized. Bank Nationalisation Day came into existence ever since 14 banks were nationalised by the government on July 19, 1969.

Demand – liability part in the balance sheet as bank is responsible to pay rate of interest to the depositors and deposited amount when they ask money.

Geoffrey Crowther, Baron Crowther was a British economist, journalist, educationalist and businessman. He was editor of The Economist from 1938 to 1956.

The Banking Regulation Act, 1949 is a legislation in India that regulates all banking firms in India. Initially, the law was applicable only to banking companies. But, 1965 it was amended to make it applicable to cooperative banks and to introduce other changes.

Rajnish Kumar is the current chairman of the SBI, who replaced Arundhati Bhattacharya. She is the first woman to be the Chairman of State Bank of India. In 2016, she was listed as the 25th most powerful woman in the world by Forbes.