He became Chief General Manager of Human Resources Department in 2014. © Reserve Bank of India. Heike Mensi-Klarbach übernimmt ab 1. 9. Strengthening cross-border co-operation among supervisors by engaging with supervisors of other jurisdictions through Memorandum of Understanding (MoU)/ Letter of Co-operation (LoC) for sharing of supervisory information. The current thrust-areas of the Department are as follows: Promoting greater environmental consciousness, conserving resources like energy and water and auditing the use of these resources. Persons resident in India have to simply approach the Authorised Persons for their foreign exchange needs. Off-site monitoring is undertaken by obtaining periodical returns from business units, analysing them and initiating follow-up as deemed appropriate. Forged Notes Vigilance Operations: Formulating policy on dealing with forged Act), rules framed and directions/regulations issued thereunder and violations falling under the Prevention of Money Laundering Act, 2002 where directions have been issued by RBI. Other publications of the department include State Finances: A Study of Budgets; the Reserve Bank of India Bulletin; the Handbook of Statistics on Indian States;and RBI Occasional Papers. maintains principal deposit accounts of Central and State Governments at Central Accounts Section of the Reserve Bank of India, Nagpur, grants ways and means advances to Central and State Governments. frames the accounting policy of the Reserve Bank, finalises the weekly statement of accounts of the Issue and Banking Departments and the annual balance sheet of the Reserve Bank, attends to matters relating to government business, such as appointment of agency banks, paying them commission and overseeing their conducting of government business. reviews of security arrangements. Apart from complaint redress, CEPD will also act as the nodal department for enforcing ethical behaviour by the financial services providers under the regulatory purview of the Reserve Bank. Additionally, it places the findings of Information Systems (IS) audits before the Information Technology Sub Committee (ITSC) of the Board. Telephone : 22671400 Authorises and allocates food credit to state governments. Augmentation, replacement and upgradation of IT infrastructure on a continuous basis. You’re on our corporate website. In terms of the PSS Act, no person other than the Reserve Bank of India (RBI) can commence or operate a payment system in India unless authorised by the Reserve Bank. For a brief period he served as GM (Administration) at RBI, Nagpur. Administration of the provisions of the Reserve Bank of India Act, 1934 relating to NBFCs, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Monetary Policy. International Department was constituted in the Reserve Bank on November 3, 2014 to augment the focus on international financial diplomacy and participation in formulation of global regulatory standards. 3. notes, compiling data and sharing information on cases of forged notes with Jha; and two lectures in the memory of eminent scholars viz., Professor P. R. Brahmananda and Professor Suresh Tendulkar. "(The restructuring will) result in more efficient allocation of human resources attending to regulation and supervision of financial sector entities under the Bank's purview", the RBI said. Plays a key role in implementing monetary policy by assessing and forecasting liquidity conditions. Issuance and cancellation, if required, of Certificate of Registration (CoR) to NBFCs (including (MGCs) and SC/RCs). Framing the Reserve Bank’s views on issues of policy relevance in international economic cooperation, including those on regulatory issues and central bank currency swaps, etc. Assisting drafting of legislation to be administered by the Reserve Bank. Promoting financial education and financial literacy are the current focus of the function and encapsulates the renewed national focus on Financial Inclusion. In 2008, the Reserve Bank of India for the first time, elaborated its communication policy which was placed on the RBI website with the approval of the Reserve Bank's Central Board of Directors. General Manager The functions of the Department in brief are: To formulate macro policy to strengthen credit flow to the priority sectors, To ensure that priority sector lending becomes a tool for banks to capture untapped business opportunities among financially excluded sections of the society, To help expand Prime Minister’s Jan Dhan Yojana (PMJDY) and to make it a sustainable and scalable financial inclusion initiative through financial literacy, To step up credit flow to MSME sector and to rehabilitate sick units through timely credit support, To strengthen institutional arrangement, such as, state level bankers committee and Lead Bank Scheme to facilitate these objectives. The Inspection Department is the Secretariat and also reports its assessments to the Audit and Risk Management Sub-Committee (ARMS) of the Central Board of the Reserve Bank. Shahid Bhagat Singh Road All banking and non-banking applications are run from these data centres in a very secure and efficient way. In addition, a Market Intelligence Cell is proposed to be set up as part of FMRD. The Financial Markets Regulation Department (FMRD) has been set up on November 3, 2014 with a mandate to regulate, develop and oversee financial markets. Subsequently, enforcement work pertaining to Co-operative Banks, under the B.R. Reserve Bank of India, Regional Office invites EAgartala -tenders under Two – Bid system [Part-I (Technical Bid) & Part-II (Financial Bid)] for deployment of Security Guards in its’ properties. Board for Regulation and Supervision of Payment and Settlement Systems. Department include those related to: Management of currency notes, such as, design, printing and timely The department functions under the guidance of the IT Sub-Committee (ITSC) of the Central Board, especially in matters relating to overall IT strategy, infrastructure and applications, IT and cyber security, Business Continuity Planning, IT project implementation, etc. Please save the url of the refurbished site in your favourites as we will give up the existing site shortly and register or re-register yourselves for receiving RSS feeds for uninterrupted alerts from the Reserve Bank. Do feel free to give us your feedback by clicking on the feedback button on the right hand corner of the refurbished site. The Reserve Bank processes only those applications which require its prior approval under Foreign Exchange Management (Current Account Transactions) Rules and (Capital Account Transactions) Regulations. The department is responsible for publishing the statutory reports of the Reserve Bank, viz., the Annual Report and the Report on Trend and Progress of Banking in India. It also said the revamping will help build an experienced and skilled human resources in the area of regulation and supervision of financial sector entities. ; and. Bringing out Reserve Bank’s data publications directly from the data warehouse. Undertaking forward-looking surveys on macroeconomic changes and expectations for monetary policy formulation. manner. The Foreign Exchange Regulation Act, 1973 (FERA) was repealed and a new Act called the Foreign Exchange Management Act, 1999 (FEMA) came into force with effect from June 1, 2000. The Board for Regulation and Supervision of Payment and Settlement Systems (BPSS) prescribes policies relating to the regulation and supervision of all types of payment and settlement systems. 4. The varied publications of the Reserve Bank are the mainstay of the Reserve Bank’s dissemination policy. DCBR functions in close coordination with other regulators, namely, Registrar of Cooperative Societies (RCS) and Central Registrar of Cooperative Societies (CRCS). As a part of internal control mechanism, all the business units are required to get their transactions (mainly financial transactions) audited by external chartered accountant firms, concurrently with the occurrence of such transactions. Financial Inclusion and Development Department. 8. The details of the enforcement action are provided through Press Releases and in various publications of RBI. Building a technology-driven centralised information management of receipt, processing, production, storage and retrieval of data and its dissemination system based on data warehousing approach. Support services for IT systems for smooth operations of the application systems through Data Centres and management of Local Area Networks (LAN) etc. Appearing on behalf of the Reserve Bank before the Central Information Commission and various judicial forums, such as, District Consumer Disputes Redressal Forum, State Consumer Disputes Redressal Commission, Labour Courts/Industrial Tribunals, etc. Chief General Manager & Chief Vigilance Officer Secretarial support to the Technical Advisory Committee on Money, Government Securities and Foreign Exchange Markets and RBI-SEBI Technical Committee on Interest Rate and Currency Futures. Human Resource Management Department / Central Establishment Section / RBI Museum Cell / Rajbhasha Cell, Enforcement Department / Department of Payment and Settlement System, Banking Department / Information Technology / Consumer Education & Protection Cell, Financial Inclusion and Development Department, Department of Statistics and Information Management, Department of Economic and Policy Research, Asst. Dissemination of instructions/information relating to customer service and grievance redress by banks and the Reserve Bank of India, Overseeing the grievance redress mechanism in respect of services rendered by various offices/departments of the Reserve Bank, Administering the Banking Ombudsman Scheme, Acting as a nodal department for the Banking Codes and Standards Board of India (BCSBI). The core function of the Department is to undertake enforcement action against the entities regulated by RBI on the basis of supervisory reports and regulatory references in an objective and consistent manner, to ensure compliance with regulations within the overarching principle of financial system stability, greater public interest and consumer protection. The Risk Monitoring Department (RMD) has been constituted for implementation of Enterprise-wide Risk Management System in the Reserve Bank. UCBs are primarily registered as cooperative societies under the provisions of either the State Cooperative Societies Act of the State concerned or the Multi State Cooperative Societies Act, 2002. The department has two divisions looking after operational risks and financial risks. There are 27 other offices and branches. Primary Dealers: To enter into agreements with PDs, monitor and review their performance with regard to underwriting and bidding commitments in primary markets, conduct underwriting auctions and supervise standalone PDs. The primary activities of the department include: Regulation and development of the money, government securities, foreign exchange markets and related derivative markets; Regulation and supervision of financial benchmarks for interest rates and foreign exchange markets; Development work related to financial market infrastructure for the money, government securities, foreign exchange markets and related derivative markets, including trade repository for over-the-counter(OTC) derivative transactions; Oversight / surveillance of the money, government securities, foreign exchange markets and related derivative markets; and.
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