10 interesting facts about RBI

Team Udayavani, Apr 2, 2020, 4:16 PM IST

Reserve Bank of India (RBI) is the central banking authority of India. It plays a critical role in development policies of Government of India.

Here are 10 interesting facts about RBI

• RBI’s logo was derived from East India Company Double Mohur.
• RBI was the banker for Government of Burma (Myanmar) until 1947 and offered central banking service to Pakistan until 1948.
• The financial year of RBI is from 1 July to 30 June.
• RBI is responsible only for printing the currency notes and minting of coins is done by the Government of India.
• RBI was conceptualized based on the guidelines presented by Dr. Ambedkar in his book titled “The Problem of the Rupee – Its origin and its solution”.
• Manmohan Singh is the only Prime Minister to have also served as the Governor of RBI.
• RBI does not have any Class II employee, there are only Class I, III and IV employees
• Initially, its headquarters was in Calcutta, it was permanently moved to Mumbai in 1937.
• RBI is a member bank of the Asian Clearing Union
• RBI runs a Monetary Museum in the premises of the Mumbai head office.