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Home>> About Us >> Organisation and Functions - Departments
RBI - Brochure explaining RBI's Role and Functions in brief
Reserve Bank of India : Functions and Working

Departments

Consumer Education and Protection Department
Corporate Strategy and Budget Department
Department of Banking Regulation
Department of Banking Supervision
Department of Communication
Department of Cooperative Bank Regulation
Department of Cooperative Bank Supervision
Department of Corporate Services
Department of Currency Management
Department of Economic and Policy Research
Department of External Investments and Operations
Department of Government and Bank Accounts
Department of Information Technology
Department of Non-Banking Regulation
Department of Non-Banking Supervision
Department of Payment and Settlement Systems
Department of Statistics and Information Management
Financial Inclusion and Development Department
Financial Markets Operation Department
Financial Markets Regulations Department
Financial Stability Unit
Foreign Exchange Department
Human Resource Management Department
Inspection Department
Internal Debt Management Department
International Department
Legal Department
Monetary Policy Department
Premises Department
Rajbhasha Department
Risk Monitoring Department
Secretary's Department
Central Vigilance Cell

List of Executives

GOVERNOR

Telephone

Fax No.

Dr. Raghuram Rajan
Governor
Reserve Bank of India
Central Office Building
18th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.

22660868
22661784

DEPUTY GOVERNORS

Telephone

Fax No.

Shri H.R. Khan
Deputy Governor
Reserve Bank of India
Central Office Building
19th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.
22632591 22664402
Dr Urjit R Patel
Deputy Governor
Reserve Bank of India
Central Office Building
19th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.
22610990 22675831
Shri R. Gandhi
Deputy Governor
Reserve Bank of India
Central Office Building
19th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.
22611080 22675094
Shri S. S. Mundra
Deputy Governor
Reserve Bank of India
Central Office Building
19th Floor,  Shahid Bhagat Singh Road
Mumbai – 400 001.
22611097 22675277

EXECUTIVE DIRECTORS

Telephone

Fax No.

Shri D.K.Mohanty
Executive Director,
Reserve Bank of India
Central Office Building
17th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.

22633146 22633145
Shri P. Vijaya Bhaskar
Executive Director,
Reserve Bank of India
Central Office Building
17th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.
22624090 22660797

Shri G. Padmanabhan
Executive Director,
Reserve Bank of India
Central Office Building
17th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.

22700932 22700933

Shri Jasbir Singh
Executive Director,
Reserve Bank of India Building
2nd floor, Opp. Mumbai Central Railway Station,
P.B. No 4571, Mumbai Central
Mumbai - 400008

23019460 23015662
Dr. (Smt) Deepali Pant Joshi
Executive Director,
Reserve Bank of India
Central Office Building
17th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.
22630699 22659610

Shri N. S. Vishwanathan
Executive Director,
Reserve Bank of India
Central Office Building
17th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.

22621382 22679095

Shri U S Paliwal
Executive Director,
Reserve Bank of India
Central Office Building
17th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.

22611083 22632052

Shri Chandan Sinha
Executive Director,
Reserve Bank of India
Central Office Building
17th Floor, Shahid Bhagat Singh Road
Mumbai-400 001.

22611089 22675794

Dr M. D. Patra
Executive Director,
Reserve Bank of India
Central Office Building
Shahid Bhagat Singh Road
Mumbai-400 001.

22610405 22651685

Shri K. K. Vohra.
Executive Director,
Reserve Bank of India
Central Office Building
Shahid Bhagat Singh Road
Mumbai-400 001.

22184868 22150540
22162768
Shri G. Mahalingam.
Executive Director,
Reserve Bank of India
Central Office Building
Shahid Bhagat Singh Road
Mumbai-400 001.
22610642 22634824

DEPARTMENTS

Telephone

Fax No.

Shri Arun Pasricha
Chief General Manager
Consumer Education and Protection Department
Reserve Bank of India
1st Floor, Amar Building
Sir P.M. Road,
Mumbai-400 001.

22630483

22631744

Shri Rajesh Verma
Principal Chief General Manager
Corporate Strategy and Budget Department
Reserve Bank of India
Main Building, Shahid Bhagat Singh Road,
Mumbai-400 001.

22610468

22610535

Shri Sudarshan Sen
Chief General Manager-in-charge
Department of Banking Regulation
Reserve Bank of India
12th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22705688

22705691

Shri P. R. Ravi Mohan
Chief General Manager-in-Charge
Department of Banking Supervision
Reserve Bank of India
Centre I, World Trade Centre,
Mumbai-400 005.

22182528

22180157
22187932

Ms Alpana Killawala
Principal Press Relations Officer
Department of Communication
Reserve Bank of India
12th Floor, Central Office Building,
Shahid Bhagat Singh Road
Mumbai-400 001.

22660502
22630502

22660358
22658269

Ms Suma Varma
Principal Chief General Manager
Department of Cooperative Bank Regulation
Reserve Bank of India
Garment House, Dr. Annie Besant Road,
Mumbai-400 018.

24973050

24974030

Ms Malavika Sinha
Chief General Manager
Department of Cooperative Bank Supervision
Reserve Bank of India
Garment House,Dr. Annie Besant Road,
Mumbai-400 018.
   

Shri Rajesh Kumar
General Manager-in-Charge
Department of Corporate Services
Reserve Bank of India
21 Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

   

Shri B P Vijayendra
Principal Chief General Manager
Department of Currency Management
Reserve Bank of India
4th Floor, Amar Building
Sir P.M. Road,
Mumbai-400 001.

22610900

22662442

Shri B M Misra
Principal Adviser
Department of Economic and Policy Research
Reserve Bank of India
7th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610761

22630061

Shri S. K. Bal
Chief General Manager
Department of External Investments and Operations
Reserve Bank of India
22nd Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22631045

22664667

Smt. Madumita Sarkar Deb
Chief General Manager-in-Charge
Department of Government and Bank Accounts
Reserve Bank of India
Opp. Mumbai Central Railway Station
Mumbai 400 008.

23016214

23008764

Shri S. Ganeshkumar
Chief General Manager
Department of Information Technology
Reserve Bank of India
14th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22624856

22691557

Ms Archana Mangalagiri,
General Manager- in-Charge
Department of Non-Banking Regulation
Reserve Bank of India
Centre I, World Trade Centre,
Mumbai-400 005.
22161940
22160163
 

Ms C. R. Samyuktha
Chief General Manager
Department of Non-Banking Supervision
Central Office,
Centre I, World Trade Centre,
Mumbai-400 005.

22153350

22162768

Shri Vijay Chugh
Principal Chief General Manager
Department of Payment and Settlement Systems
Reserve Bank of India
14th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

2264 4995

22659566

Dr. A K Srimany
Officer-in-Charge
Department of Statistics and Information Management
Reserve Bank of India
C-8/9, Bandra-Kurla Complex,
Bandra,
Mumbai-400 051.

26571253

26542319

Shri A. Udgata
Chief General Manager-in-Charge
Financial Inclusion and Development Department
Reserve Bank of India
10th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610261

22610943

Shri R.S. Ratho,
General Manager-in-Charge
Financial Markets Operation Department
Reserve Bank of India
23rd Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610642

22634824

Ms Dimple Bhandia
General Manager-in-Charge
Financial Markets Regulations Department
Reserve Bank of India
23rd Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

   

Dr. S. Rajagopal
Chief General Manager
Financial Stability Unit
Reserve Bank of India
2nd& 3rd Floor, Amar Building,
Sir P.M.Road,
Mumbai-400 001.

22612214

22612853

Shri B. P. Kanungo
Chief General Manager-in-Charge
Foreign Exchange Department
Reserve Bank of India
11th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610628

22615330

Shri R. L. Das
Chief General Manager-in-Charge
Human Resource Management Department
Reserve Bank of India
20th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610301

22702524

Shri M. Sebastian,
Principal Chief General Manager
Inspection Department
Reserve Bank of India
C-7, Bandra-Kurla Complex
Bandra  
Mumbai-400 051.

26572308

26542029

Smt. Rekha Warriar
Chief General Manager
Internal Debt Management Department
Reserve Bank of India
23rd Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610671

22644158

Shri S.V.S. Dixit
Adviser
International Department
Reserve Bank Of India
8th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610824 22702989

Ms Mona Anand
Legal Adviser
Legal Department
Reserve Bank of India
5th Floor, Centre I, World Trade Centre,
Mumbai-400 005.

22153447

22153470

Dr. B. K. Bhoi, Adviser
Monetary Policy Department
Reserve Bank of India
24th Floor, Central Office Building
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610405

22651685

Shri S. Venkatachalam
Principal Chief General Manager
Premises Department
Reserve Bank of India
5th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610950

22660807

Smt. Surekha Marandi
Chief General Manager
Rajbhasha Department
Reserve Bank of India
Garment House,
Dr. Annie Besant Road,
Mumbai-400 018.

24948263

24982077

Shri Rajeshwar Rao
Chief General Manager
Risk Monitoring Department
Reserve Bank of India
Ground Floor, Garment House
Worli, Mumbai - 400 018

2497 9087
2482 4019

2496 9705

Shri Bazil Shaikh
Principal Chief General Manager & Secretary
Secretary's Department
Reserve Bank of India
16th Floor, Central Office Building,
Shahid Bhagat Singh Road,
Mumbai-400 001.

22610074

22701034

Smt Surekha Marandi
Chief Vigilance Officer
Central Vigilance Cell
Reserve Bank of India
Central Office Building, 16th floor
Shahid Bhagat Singh Road
Mumbai 400001

22671400

22671401

Consumer Education and Protection Department

The Customer Service Department was renamed as Consumer Education and Protection Department (CEPD) in November 2014 and acts as the single nodal point for receipt and disposal of all external complaints on deficiency of services provided by the Reserve Bank of India and the reserve Bank-regulated entities. 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. It will also create consumer awareness and educate the public on banking and financial services.

Major Functions:

  1. Dissemination of instructions/information relating to customer service and grievance redress by banks and the Reserve Bank of India
  2. Overseeing the grievance redress mechanism in respect of services rendered by various offices/departments of the Reserve Bank
  3. Administering the Banking Ombudsman Scheme
  4. Acting as a nodal department for the Banking Codes and Standards Board of India (BCSBI)
  5. Ensuring redress of complaints about deficiencies in customer service in banks received directly and through CPGRAMS - Portal of Government of India.
  6. Liaison between banks, Indian Banks’ Association, BCSBI, offices of Banking Ombudsmen and regulatory departments of the Reserve Bank on matters relating to customer services and grievance redress and providing policy inputs to regulatory departments of the Reserve Bank, IBA and BCSBI in this regard.
  7. Compile and publish Annual Report of the Banking Ombudsman Scheme, 2006

Top   

Corporate Strategy and Budget Department

This department mainly looks after:

  • Formulation of policy relating to Provident Fund, Actuarial Valuation, investment of various staff welfare funds in government securities
  • Policy work relating to the Reserve Bank's budget, sanction of additional budget, managing budget module in CBS, review and amendments of Expenditure Rules
  • Preparation of vision, mission and action statement of the Reserve Bank
  • Work related to opening of offices and organisations funded by the Reserve Bank
  • Preparation of policy and broad guidelines for business continuity plan

Top   

Department of Banking Regulation

The Department of Banking Regulation exercises regulatory powers in respect of commercial banks, Local Area Banks (LABs) and Regional Rural Banks (RRBs) as per the provisions contained in the Banking Regulation Act, 1949, the Reserve Bank of India Act, 1934, the Regional Rural Banks Act, 1975 and other related statutes.

In particular, it looks after

  • licensing, branch expansion and maintenance of statutory reserves, management and methods of operations, amalgamation, reconstruction and liquidation of banking companies.
  • regulatory oversight of select All India Financial institutions, such as, Exim Bank, Industrial Investment Bank of India (IIBI), National Bank for Agriculture and Rural Development (NABARD), National Housing Bank (NHB) and Small Industries Development Bank of India (SIDBI) and administration of the Credit Information (Regulation) Act, 2005 and regulation of credit information companies.
  • approval for setting up of subsidiaries and undertaking of new activities by commercial banks as also the regulatory functions relating to financial institutions (FIs).
  • promoting and fostering a sound, multi-faceted and competitive financial system by laying down norms for prudential regulation of commercial banks/FIs.
  • creating pro-active environment for development of new products
  • keeping itself abreast of developments domestically and globally and formulating policy responses by suggesting amendments to the existing laws/enactment of new legislation, regulation, etc.
  • striving to bring the regulatory standards of commercial banks/FIs on par with the international best practices.

Top   

Department of Corporate Services

Created as part of institutional reorganisation undertaken in November 2014, the focus of Department of Corporate Services will be on coordinating and facilitating delivery of certain internal corporate services so that specialised departments can focus on their core functions. It will, thus, look after:

  • Protocol Services to top management
  • Coordinating management of events, seminars, meetings and providing hospitality to visiting dignitaries
  • Providing other support services, such as, framing guidelines for award of contracts/floatation of tenders for printing, pricing, sales and distribution of publications and centralised procurement/arrangement of various stationery items, courier services, etc.
  • Coordinating with Department of Information Technology, Human Resources Management Department and other user departments for Electronic Documentation Management System of the Reserve Bank including framing guidelines for preservation of documents.

Top   

Department of External Investments and Operations

Functions

  • Investment and management of the foreign currency and gold assets of the Reserve Bank of India,
  • Handling external transactions on behalf of Government of India (GOI) including transactions relating to International Monetary Fund (IMF)
  • All policy matters incidental to India's membership of the Asian Clearing Union, and
  • Other matters relating to gold policy, membership of the Bank for International Settlements (BIS) and bilateral banking arrangements between India and other countries like Russia, bilateral and South Asian Association for Regional Cooperation(SAARC) currency swap arrangements

Top   

Department of Government and Bank Accounts

The Department of Government and Bank Accounts (DGBA) discharges the core central banking function of acting as banker to the government and banker to banks.

More specifically, it:

  • 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
  • Carries out day to day operations by agency bank branches (authorised for this purpose) and Banking Departments at Regional Offices.
  • 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. Much of this is done in consultation with the government

In its capacity as banker to banks, the Reserve Bank:

  • opens current accounts of banks with itself, enabling them to maintain statutorily prescribed cash reserves as well as to carry out inter-bank transactions
  • effects interbank clearing settlements through these current accounts

The Department of Government and Bank Accounts (DGBA) also functions as the central office of the Banking Departments at Regional Offices.

Top   

Department of Payment and Settlement Systems

Functions

The Department of Payment and Settlement Systems (DPSS), as a separate department of the Reserve Bank, came into existence in March 2005.

The functions of the Department include:

  • Policy formulation in respect of payment and settlement systems
  • Authorisation of payment and settlement systems/operators
  • Regulation of payment and settlement systems
  • Supervision and monitoring of payment and settlement systems
  • Laying down standards for payment and settlement systems
  • Designing, developing and integrating payment system projects of national importance and / or facilitating such implementation
  • Implementation of the international principles relating to payment systems as enunciated by the Bank for International Settlements

The department has four Regional Offices at Chennai, Kolkata, Mumbai and New Delhi.

Board for Regulation and Supervision of Payment and Settlement Systems

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. The BPSS also provides guidance on setting standards for existing as well as future payment systems, authorising the payment and settlement systems/operators, determine criteria for membership to these systems, including continuation, termination and rejection of membership. BPSS meets once every quarter.

  • The payment and settlement systems in India are regulated under the Payment and Settlement Systems Act, 2007 (PSS Act). The PSS Act as well as the Payment and Settlement System Regulations, 2008 framed under the Act came into effect from August 12, 2008. 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.

  • Payment and settlement systems in India includes cheque based clearing systems, Electronic Clearing Service (ECS) suite, National Electronic Funds Transfer (NEFT) System, electronic payments using debit and credit cards, prepaid payment instruments, mobile banking, internet banking, etc. While Real Time Gross Settlement Systems (RTGS) and Clearing Corporation of India Ltd. (CCIL) constitute financial market infrastructure, National Payments Corporation of India (NPCI) is the umbrella organisation for retail payments.

Top   

Department of Statistics and Information Management

  • Collection, processing and analysis of data on banking, corporate and external sectors.
  • Planning, designing and organising quick sample surveys regularly for area of interest to the Reserve Bank.
  • Maintaining the Reserve Bank’s Data Warehouse and disseminating data/information.
  • Modelling and forecasting of important macro-economic indicators.
  • Development of methodology for the measurement and estimation of variables and improvement of the database of various sectors of the economy through participation in committees, working groups, etc.
  • Providing technical support to other departments of the Reserve Bank in statistical analysis in specific areas and undertaking studies in the areas of interest to the Reserve Bank.

Current Focus

  • 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. The system provides the decision-makers, analysts and researchers, online and real-time access to a central repository of clean and consistent historical and current data.
  • Standardisation in reporting of financial data under XBRL, which is being integrated with the data warehouse, and is envisaged to be the only platform for receiving and validating the incoming data in due course.
  • Developing a statistical system for maintaining data quality.
  • 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. Conducting other periodic surveys to fill data gaps on relevant indicators, e.g., housing, employment placement for fresh graduates, etc.
  • Improving the coverage of studies relating to finances of private corporate sector of the economy.
  • Generation of forecasts of macroeconomic variables and related empirical work, including developing a quarterly macro-econometric model for forecasts and policy simulation.
  • Undertaking analytical studies using of various statistical, econometric and operational research techniques which are relevant for the Reserve Bank.

Top   

Financial Markets Operation Department

Carved out of the Financial Markets Department in November 2014, the Financial Markets Operation Department (FMOD) has been entrusted with the responsibility of carrying out market operations towards implementing the Reserve Bank’s monetary policy objectives. The Department, on behalf of the Reserve Bank, conducts operations in the money, government securities and forex markets. As a part of this responsibility, the FMOD also undertakes analysis of various market segments and provides inputs to the top management for informed decision making.
The specific functions of FMOD include:

  • Domestic forex market operations (Spot, Forwards and Swaps)
  • Liquidity Adjustment Facility (LAF) operations (Repo, Reverse repo, Marginal Standing Facility) including Open Market Operations (Outright sale/purchase of gilts) under liquidity management framework revised in August 2014
  • Special Market Operations (SMO) for specific purposes
  • Computation and dissemination of the Reserve Bank's Rupee Reference Rate
  • Computation of Nominal Effective Exchange Rate (NEER) and Real Effective Exchange Rate (REER)
  • Issuance and buyback of dated securities under Market Stabilisation Scheme (MSS)
  • Analysis of market developments
  • Carrying out market oriented research and analysis
  • Estimation of liquidity requirement in the banking system
  • Providing secretarial assistance to the Financial Markets Committee (FMC) of the Reserve Bank
  • Coordinating meetings of Early Warning Group (EWG) comprising financial sector regulators and Ministry of Finance

In addition, the FMOD also attends to policy issues relating to various segments of financial markets, fixation of Intra-Day Limits (IDL) limits for operation of Real Time Gross Settlement Accounts and attending to references received from other departments of the Reserve Bank, international and other regulatory organisations.

Top   

Financial Markets Regulation Department

The Financial Markets Regulation Department (FMRD) has been set up on November 3, 2014 with a mandate to regulate, develop and oversee financial markets. 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
  • 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.

In addition, a Market Intelligence Cell is proposed to be set up as part of FMRD.

Top   

Financial Stability Unit

Keeping in view both international and domestic initiatives for resolving financial crisis and strengthening international financial architecture, the Financial Stability Unit (FSU) was set up in July 2009. The main functions of FSU are:

  • Conduct of macro-prudential surveillance of the financial system on an ongoing basis
  • Preparation of financial stability reports
  • Development of a database of key variables which could impact financial stability, in co-ordination with the supervisory wings of the Reserve Bank
  • Development of a time series of a core set of financial indicators
  • Conduct of systemic stress tests to assess resilience and
  • Development of models for assessing financial stability

Following the formation of the Financial Stability and Development Council (FSDC), FSU provides the Secretariat to the Sub-Committee of the FSDC which is headed by the Governor. Executive Director (in charge of FSU) acts as the Member-Secretary of the FSDC Sub-Committee.

Top   

Human Resource Management Department

Human Resource Management Department (HRMD) essentially facilitates the Reserve Bank's central banking activities by (i) creating an enabling environment to enhance the efficiency of the organisation (ii) drawing out from the staff the very best by a system of proper placements, incentives, and (iii) creating an atmosphere of trust, a certain security of expectations and a feeling that the organisation cares about the well being and personal aspirations of the staff. This helps align personal aspirations of the staff with professional goals and helps enhance efficiency in the organisation.

Specifically, the functions of HRMD are:

a) To evolve and implement policies for:

  1. Recruitment
  2. Placement
  3. Promotions and career progression
  4. Performance and potentiality appraisal
  5. Training, development and skill upgradation
  6. Mobility (Transfers and Rotation)
  7. Reward and motivation
  8. Retirement/voluntary vacations
  9. Wage structure and other facilities
  10. Deputation/Secondment/Tour of duty

b) To generally administer discipline management system in the Reserve Bank
c) To disseminate information under the Right to Information Act, 2005 with a view to promoting transparency and accountability in the Reserve Bank's operations
d) To maintain up-to-date database on human resources in the Reserve Bank
e) To maintain harmonious industrial relations and to conduct negotiations with various recognised bodies of different categories of staff on matters like pay scales and allowances, welfare schemes, personnel policies, etc.
f) To continuously review the appraisal system in order to make it an effective tool for HRD policy management
g) To design career and succession plan
h) To oversee the Reserve Bank’s training establishments (namely, Reserve Bank Staff College, Chennai and College of Agricultural Banking, Pune besides Zonal Training Centres at Chennai, Kolkata, Mumbai and New Delhi) and revitalise training functions
i) To administer Staff Suggestion Scheme
j) To oversee Summer Placement
k) To publish the Reserve Bank's house journal ‘WITHOUT RESERVE’ and to conduct RBI Quiz.
l) To act as Secretariat to Human Resource Management Sub-Committee of the Central Board.
m) To oversee matters pertaining to Prevention of Sexual Harassment of women at work place including secretarial assistance to Central Complaints Committee.

Top   

Legal Department

The primary responsibilities of the Legal Department are:

  1. Providing legal advice to the top management, departments, regional offices and subsidiaries of the Reserve Bank.
  2. Managing litigation on behalf of the Reserve Bank and the Deposit Insurance and Credit Guarantee Corporation (DICGC).
  3. Vetting of circulars, directions, regulations and agreements for the various departments of the Reserve Bank. Assisting drafting of legislation to be administered by the Reserve Bank.
  4. Acting as a Secretariat to the First Appellate Authority of the Reserve Bank under the Right to Information Act, 2005.
  5. 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.

Top   

Risk Monitoring Department

The Risk Monitoring Department (RMD) has been constituted for implementation of Enterprise-wide Risk Management System in the Reserve Bank. The department has two divisions looking after operational risks and financial risks. For effective identification, assessment and management of risks uniformly throughout the Reserve Bank, RMD has been mandated:

  • To prepare a broad risk management framework and to formulate and to periodically review the Reserve Bank’s policies/methodologies/matrices and to interact with functional units to ensure that all significant risks are identified.
  • To aggregate, monitor and periodically report the risks reported by functional units to the Risk Monitoring Committee (RMC) and Audit and Risk Management Sub-Committee (ARMS).
  • To assess and report the financial risks arising out of the Reserve Bank’s policy actions to the RMC and ARMS.
  • To create institutional memory by building a database of ‘loss’ and ‘near loss’ events.
  • To periodically review the adequacy and appropriateness of the Reserve Bank’s Business Continuity Plans (BCPs) and systems.
  • To foster risk management culture in the organisation.

Top   

Secretary's Department

  • Secretarial work connected with the meetings of the Central Board and its Committee as also the Administrators of the Reserve Bank of India Employees' Provident Fund and Reserve Bank of India Employees' Co-operative Guarantee Fund.
  • Secretarial work relating to the Deputy Governors' Committee Meetings
  • Conveying the decisions taken in all the meetings mentioned above to the concerned Central Office departments and also all the Regional Offices in case of Senior Management Committee (SMC) meetings / Sideline meetings of Governor and monitoring the implementation/follow up thereof.
  • Work relating to joining / retirement / relinquishing charges by Governor and Deputy Governor.
  • Work relating to terms and conditions of service of Governor and Deputy Governors.
  • Work relating to constitution of Central Board / Local Board.
  • Providing administrative support to the Top Management, including staff support and various non-establishment payments.
  • Work relating to administration and non-establishment payments pertaining to Secretary's Department, IDMD, FSU, FMD, DoC and MPD (Limited administrative function).
  • Providing IT related infrastructure support (computers, printers, fax machines, i-pads, cell phones etc) to the Top Management and their Secretarial Staff.
  • Work relating to reservation of the VVIP Guest House.

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Central Vigilance Cell

The Reserve Bank of India’s Vigilance unit is under the overall charge of the Chief Vigilance Officer (CVO). The main function of the Vigilance Unit is to undertake preventive vigilance and anti-corruption measures as also investigate complaints /allegations having vigilance angle (as defined by the Central vigilance Commission) against the employees of the Bank. The Vigilance Unit also implements the various instructions issued by the Central Vigilance Commission. Persons who are victims of corruption or have any information of corruption in the Reserve Bank of India may send their complaints to the CVO of the Reserve Bank by e-mail or by post to:

Smt Surekha Marandi
Chief Vigilance Officer
Reserve Bank of India
Central Office Building, 16th floor
Shahid Bhagat Singh Road
Mumbai 400001

 
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