RBI or Federal Reserve Bank of India is understood to be the central banking institution in India that has the duty of controlling the financial policy of the Indian government. The organizational Structure of Reserve bank of India can be studied in three different parts.
Firstly, the central board of directors. It is the main committee of the central bank. The directors here are being appointed by the government of India for the term of four years. The central board of directors are vested with the organization and the management of reserve bank of India. There are twenty members that constitute the central board of directors. The twenty members are as follows:
· One governor, who is appointed by the government of India and is the highest authority of Reserve bank of India, The duration of his term, is of five years. The governor can also be re appointed.
· Four governor’s deputy, also nominated by the central government for the term of five years.
· Fifteen directors, who are also appointed by the central government. Out of these fifteen directors four directors are from four local boards each are nominated by the central government.
Ten administrators nominated by the Central Government are among the consultants of commerce, industries, finance, political economy and cooperation. The finance secretary of the govt. of Republic of India is additionally nominated as Govt. officer within the board. 10 administrators are nominated for a term of four years. The Governor acts as the Chairman of the Central Board of administrators. In his absence a deputy Governor nominative by the Governor, acts because the Chairman of the Central Board. The Governor and 4 deputy Governors are full time officers of the Bank.
Second is the Local Boards or the Supportive Bodies. There are 4 local boards from the regional areas of the four metros of the country namely, new Delhi, Kolkata, Mumbai and Chennai. The local board is consisting of each 5 members, who are appointed by the central government for the term of four years. They represent economic and territorial interests as well as the interests of the indigenous banks.
Third are the Offices and Branches of Reserve Bank of India. The Federal Reserve Bank of India has four zonal offices. Nineteen of its regional offices are at the most state capitals and at many major cities in India. Few of them are settled in Ahmadabad, Bhopal Bangalore, Chandigarh, Delhi, Chennai, Guwahati, Jaipur, Hyderabad, Patna Kolkata, Mumbai Lucknow, and Thiruvananthapuram. Besides, nine of its sub-offices are at Agartala, Dehradun, Gangtok, Panaji Kochi, Ranchi, Raipur Shimla Shillong, and Srinagar.
The bank has additionally 2 coaching faculties for its officers, viz. Federal Reserve Bank workers school at metropolis and school of Agricultural Banking at Pune. There are four Zonal coaching Centres at Bombay, Chennai, metropolis and New Delhi.