INDIAN BANKS

In India there a lot of banks. in this world economic crisis indian banks are leading organisation in the country,becasue of our RESERVE BANK OF INDIA,the banker of all banks. in india the banks are segreated as diiferent groups,they obey the rules and regulations of RBI.but the banks are formed there own marketing style and way.They are working in both rural and urban areas, and serving both poor and rich people.In indian the customer can choose their own bank. if one bank is giving bad service ,the customer can select another bank. I have an experience with ICICI Bank. This bank is taking Rs.10000/- for opening new accounts.if the amount is less than 10000/- they are cutting amount from there,that means huge amount. After one year there is no account balance. how a poor man can open account in this bank.some banks are acting like this way. rest of all bank are giving good service.

Reserve Bank of India (RBI)

The central bank of the country is the Reserve Bank of India (RBI). It was established in April 1935 with a share capital of Rs. 5 crores on the basis of the recommendations of the Hilton Young Commission. The share capital was divided into shares of Rs. 100 each fully paid which was entirely owned by private shareholders in the begining. The Government held shares of nominal value of Rs. 2,20,000.Reserve Bank of India was nationalised in the year 1949. The general superintendence and direction of the Bank is entrusted to Central Board of Directors of 20 members, the Governor and four Deputy Governors, one Government official from the Ministry of Finance, ten nominated Directors by the Government to give representation to important elements in the economic life of the country, and four nominated Directors by the Central Government to represent the four local Boards with the headquarters at Mumbai, Kolkata, Chennai and New Delhi. Local Boards consist of five members each Central Government appointed for a term of four years to represent territorial and economic interests and the interests of co-operative and indigenous banks.The Reserve Bank of India Act, 1934 was commenced on April 1, 1935. The Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank.The Bank was constituted for the need of following:
To regulate the issue of banknotes
To maintain reserves with a view to securing monetary stability and
To operate the credit and currency system of the country to its advantage

ADDRESS OF RBI

RESERVE BANK OF INDIA ADDRESSReserve Bank of India,Central Office,Shaheed Bhagat Singh Road,Mumbai - 400 001.