As all we know that RBI (RESERVE BANK OF INDIA) founded in april 1st 1935 as we discussed in previous article but many few are knows that for establishing RBI first step took place in 1914.
In 1914 chamberline commission is found under the head of lord kions. After sometime of founding ,chamberline commisson head mr.lord kions had gave reports.But due to some issues and demerits commission not approved that and after all this the process for creating RBI is break for 12years.
After 12years in 1926 Royal commission had found under the head of hilton young this commission work upto 1927.In 1927 this also postpond. After this in 1931 indian central banking enquiry committee reopen royal or hilton young commission and after working for three year In 1934 (RBI BILL) passed in lok sabha then rajya sabha after that by parliament it works as an act which is known as RBI ACT 1934 and it works from 1st april 1935.
In 1935 RBI head office is located or established in kolkata.In 1937 RBI head office changed to mumbai.In opening RBI initial capital is five crore rupee in which share of govt. is two lakh twenty two thousand.And finally after fourteen years of RBI establishment nationalized on 1st january 1949.
RBI also had currency authority for BURMA till 1942and act as an banker for BURMA till 1947.upto 31st june 1948 RBI also act as an banker for pakistan.
The first governor of RBI is SIR OSBORN SMITH whose period is ended in 1937.After 1947 in independant india 1st indian governor is SIR CHINTAMADI DWARKANATH DESHMUKH who is third governor after the establisment of RBI.In present time RBI 25th governor is MR.SHAKTIKANT DAS who succeed MR.URJIT PATEL.
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