Two Governmental officials from the Ministry of Finance. The general superintendence and direction of the bank are entrusted to the central board consisting of: RBI is governed by a central board (headed by a governor) appointed by the central government of India. The Reserve Bank of India has 20 regional offices, most of them in state capitals and 11 Sub-offices. RBI is fully owned by the Government of India. RBI was Nationalised on 1 st January 1949 based on the Reserve Bank of India (Transfer to Public Ownership) Act, 1948. It was inaugurated with a share capital of Rs. The central office of RBI is located in Mumbai since its inception. RBI works as a central bank where commercial banks are account holders. The Reserve Bank of India is a central bank and was established on 1 st April 1935 by the provisions of the Reserve Bank of India Act 1934. It controls the financial system in the country through various measures. RBI acts as a regulator of banks, banker to the Government, and banker’s banks. To streamline the functioning of commercial banks, the Government of India enacted the Banking Companies Act,1949 which was later changed as the Banking Regulation Act 1949. From 1st January 1949, the Reserve Bank began functioning as a State-owned and State-controlled Central Bank. To have close integration between policies of the Reserve Bank and those of the Government, it was decided to nationalize the Reserve Bank immediately after the independence of the country. Imperial Bank of India was allowed to act as the agent of the RBI. RBI replaced the Imperial Bank of India and started issuing the currency notes and acting as the banker to the government. The Reserve Bank, as the central bank of the country, started its operations as a private shareholder’s bank. Power of Reserve Bank to appoint additional Directors (Section 36AB):. Power of Reserve Bank to remove managerial and other persons from office (Section 36AA):. 
Loans against Certificate of Deposits (CDs):. advances against FDRs or other term deposits of other banks. Restrictions on Grant of Loans & Advances to Officers and Relatives of Senior Officers of Banks:. Lending to directors and their relatives on a reciprocal basis:. 
Restrictions on Credit to Companies for Buy-back of their Securities:.
Restrictions on Holding Shares in Companies:.Directed credit for lending to Priority Sector and Weaker Sections:.Regulator and supervisor of the financial system:
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