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Role of RBI in Controlling Inflation & Deflation.  Institution: Vidya Vikas. Faculty: Vikas Sir. By Ashok S Rana.   RBI. Establishment:    Preamble: The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.
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  Role of RBI in ControllingInflation & Deflation .    Institution: Vidya Vikas.  Faculty: Vikas Sir.  By Ashok S Rana.  RBI. Establishment:  The Reserve Bank of India was established on April 1, 1935 inaccordance with the provisions of the Reserve Bank of India Act, 1934.  The Central Office of the Reserve Bank was initially established inCalcutta but was permanently moved to Mumbai in 1937. The CentralOffice is where the Governor sits and where policies are formulated.  Though srcinally privately owned, since nationalisation in 1949, theReserve Bank is fully owned by the Government of India. Preamble: The Preamble of the Reserve Bank of India describes the basicfunctions of the Reserve Bank as:  To regulate the issue of Bank Notes and keeping of reserves with aview to securing monetary stability in India and generally to operatethe currency and credit system of the country to its advantage.    WHO Controls RBI?  The Reserve Bank's affairs are governed by a central board of directors. The board is appointed by theGovernment of India in keeping with the ReserveBank of India Act.  Appointed/nominated for a period of four years  Constitution:  Official Directors  Full-time : Governor and not more than four Deputy Governors  Non-Official Directors    Nominated by Government: ten Directors from various fieldsand one government Official  Others: four Directors - one each from four local boards
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