Banking Awareness 32: Important Boards and Committees of RBI.

Are you willing to know the detailed information about the Important Boards and Committees of RBI? Here is the article which provides you the detailed information about the Important Boards and Committees of RBI. As we all knew the main function of RBI that includes the  Formulates, Implements, and Monitors Indias Monetary Policy, and also the main objectives of which are maintaining the price Stability, ensuring adequate flow of credit to productive sectors and also the Financial Stability.

Important Boards of RBI:-

The Direction of RBI and General Superintendence has Entrusted with 21 members in the Central Board of Directors, they are

  1. Governor of India.
  2. Four Deputy Governers.
  3. Two Finance Ministries respectively.
  4. Ten Government Nominated Directors. 

Committees of RBI:-

RBI has Constitute Committees from time to time for the best review for the Existing guidelines and its stays updated with the international best practices. It has Various Committees formed by RBI, they are:-

  1. Economic Capital Framework Committee
  2. Task Force on Offshore Rupee Markets.

Economic Capital Framework Committee:-

The RBI has started the Economic Capital Framework Committee to determine the appropriate level s of reserve in which the central bank should hold.

  • In this committee, it consists of Dr. Bimal Jalan, Former Governor, Reserve Bank of India as its chairman and Dr. Rakesh MOhyan Former of Deputy Governor, Reserve Bank of India as its Vice Chairman and many more.
  • As per the status, the capital base of theRBI is about 9.69 lakh crore and the Government wants to lower in the Global Practice.
  • After every review, the expert committee will submit the report within 90 days from the last of its first meeting.

Task Force on Offshore Rupee Markets:-

This Committee will examine the issues which are related to the offshore Rupee market in deep and it will recommend appropriate policy measures for all the factors which are required for ensuring the stability for the external value of the rupee.

For this Committee, the chairperson was Smt. Usha Thorat, who is the Former Deputy Governor of Reserve Bank of India. This Committee will submit the report by the end of June 2019.

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