SL.

NO

Name of The Governor

Joining and Leaving Dates

Sir Osborne A. Smith

April 1st 1935 June 30th , 1937

Sir James Braid Taylor

July 1st 1937 February 17th , 1943

Sir Chintaman D. Deshmukh

August 11th 1943 June 30th ,1949

Sir Benegal Rama Rau

July 1st 1949 January 14th 1957

K.G. Ambegaonkar

January 14th 1957 February 28th 1957

H.V.R. Ienger

March 1st 1957 February 28th 1962

P.C. Bhattacharyya

March 1st 1962 June 30th 1967

L.K. Jha

July 1st 1967 May 3rd 1970

B.N. Adarkar

May 4th 1970 June 15th 1970

10

S. Jagannathan

June 16th 1970 May 19th 1975

11

N.C. Sen Gupta

May 19th 1975 August 19th 1975

12

K.R. Puri

August 20th 1975 May 2nd 1977

13

M. Narasimham

May 2nd 1977 November 30th 1977

14

Dr. I.G. Patel

December 1st 1977 September 15th 1982

15

Dr. Manmohan Singh

September 16th 1982 January 14th 1985

16

A. Ghosh

January 15th 1985 February 4th 1985

17

R.N. Malhotra

February 4th 1985 December 22nd 1990

18

S. Venkitaramanan

December 22nd 1990 December 21st 1992

19

Dr. C. Rangarajan

December 22nd 1992 November 22nd 1997

20

Dr. Bimal Jalan

November 22nd 1997 September 5th 2003

21

Dr. Y.V.Reddy

September 6th 2003 September 5th 2008

22

Dr. D. Subbarao

September 5th 2008 September 4th 2013

23

Dr. Raghuram Rajan

September 4th 2013

First bank established in India: Bank of Hindustan in 1770

Second bank: General Bank of India, 1786
Oldest bank in India originated in the Bank of Calcutta in June 1806 which was still in existence State
Bank of India
State Bank of India merged with three banks namely Bank of Bengal, Bank of Bombay and Bank of
Madras in 1921 to form the Imperial bank of India which was converted as State Bank of India
First Indian bank got ISO: Canara Bank
First India bank started solely with Indian capital investment is PNB (Punjab National Bank)
Founder of Punjab National Bank is Lala Lajpat Rai

Reserve bank of India (RBI) was instituted in 1935

First governor of RBI: Mr.Osborne Smith
First Indian Governor of RBI: Mr. C D Deshmukh
First bank to introduce savings account in India: Presidency Bank in 1833
First bank to introduce cheque system in India: Bengal Bank in 1833

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First bank to introduce internet banking: ICICI bank

First bank to introduce mutual fund: State Bank of India
First bank to introduce credit card in India: Central Bank of India
Which cards are known as plastic money Credit Cards.
Open market operations are carried out by RBI
Capital market regulator is SEBI
Largest Commercial bank in India State Bank of India
The International Bank for Reconstruction and Development (IBRD) is known as World Bank
Indias First Financial Archive has been set up at Kolkata
CRR, SLR, Repo Rate, Reverse Repo rate are decide by RBI
Savings banks interest rates, fixed deposit interest rates, Loan Rates etc. are decided by individual banks
The bank which has launched Mobile Bank Accounts in association with Vodafones m paisa HDFC
Bank
Minimum money transfer limit through RTGS: 2 Lakhs
Maximum money transfer limit through RTGS: No Limit
Minimum & Maximum money transfer limit through NEFT: No Limit
NABARD was established in July, 1982
Largest Public sector bank in India SBI
Largest Private sector bank in India ICICI Bank
Largest Foreign bank in India Standard Chartered Bank
First Indian bank to open branch outside India i.e. London in 1946: Bank of India
First RRB named Prathama Grameen Bank was started by: Syndicate Bank

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in India here

First Bank to introduce ATM in India: HSBC in1987, Mumbai

Bank of Baroda has the maximum number of overseas branches
SBI holds the second position with maximum number of overseas branches
Premium credit cards exclusively for women launched recently by HDFC bank
Private Sector Bank that recently launched a product of Personal loan called SWIFT HDFC
The bank which approved loan of $500mn to help India improve Rail services Asian Development
Bank
FDI limit for new banks 49%
FDI limit for private banks: 74%
Interest Rate Swaps: An interest rate swap is the transfer of contractually agreed between two
counterparties of their respective interest rate obligation. Interest rate swaps are commonly used as a means
of converting fixed rate to floating rate debt and vice versa.

Operating Ratio: A ratio that shows the efficiency of a companys management by comparing operating
expense to net sales. Calculated as

Operation ratio = Operating expense/net sales

Wholesale Price Index (WPI): WPI is taken into consideration while calculating the inflation. A change
has recently been made in the WPI. Its present base year will be taken as 2004-05 earlier it was 1993-34.
Base year mean (2004-05 = 100). Total articles taken into consideration will be 676 earlier these were
435.676 include 102 Primary Articles, 19 fuel & power, and 555 of Manufacturing Products. Earlier WPI
was calculated on Weekly basis but now it is calculated on Monthly Basis. First time inflation was
calculated in August 2010 (on new system).
Consumer Price Index (CPI) : Most advanced nations base their policies on retail price inflation but
India uses wholesale price inflation, CPI is largely a segmental and is superior to the WPI, CPI capture
consumption price both at urban and rural centers, as in WPI 676 items are covered and base year is taken
as 2004-05 and for macroeconomic policies. Whereas in CPI 320 items are taken from (CPI-IW) CPI
industrial workers and 260 items are taken from both CPR rural laborers and CPI agricultural laborers and
the base year for calculation is taken as 2010.
Coupon Rate: Specified interest rate on a fixed maturity security fixed at the time of issue. The coupon
rate of a bond is the amount of interest paid per year as a percentage of the face value or principal.
NRO (Non Resident Ordinary a/c) : In this account , a person cannot repatriate income without RBI
approval but can remit Interest thereof.
NRNR (Non Resident Non Repatriable A/c ) : Under this account Principal amount in not permissible to
repartriate but interest can be.
NRE (Non Resident External) : In this account Funds and interest both can be remitted without RBI
permission. On NRE deposits the maximum ceiling is Libor rate + 175 basis points (Now there is no such
Ceiling).
NPA (Non Performing Assets) : Interest or Installment of Principal remains overdue for a period of more
than 90 days in respect of a Term Loan/ overdraft/ Cash credit.
Teaser Rate of Interest : This rate is typical low then the prevalent rate in the market. This is just to allure
the customer. This rate is charged only for a little time. And after that it gradually touch the index rate or
even more than that. This is a technique to attract customers.
Appropriation Bill : It is presented to parliament for its approval, so that the government can withdraw
from the Consolidated fund the amounts required for meeting the expenditure charged on the Consolidated
Fund. No amount can be withdrawn from the Consolidated Fund till the Appropriation Bill is voted is
enacted.
Call Money: Itner Bank call market is a part of the domestic money market from where banks borrowed
and lent for one day called as Money at call and for a period more than 1day & upto 14days is called Short
notice or Notice money without any collateral security. Money lend for 15days or more is called Term
money.Normally funds are borrowed for 1 day and upto 3 days on weekends just to balance the Cash
Reserve Ratio.
Nostro Account: When national bank is opened in foreign with currency is known as Nostro a/c. e.g. State
bank india branch in USA.
CIBIL {Credit Information Bureau (India) Limited} : An effective mechanism for exchange of
information between banks and Financial Institutions for curbing the growth of NPAs.
Currency War: This is the other form of Protectionism. In this the tendency of every nation is that the
value of their currency should not appreciate. The big example of this is CHINA that is holding their
currency since 2008. It could be a cause of future Trade war.

Capital Budget: It consists of capital receipts and payments. It also incorporates transactions in the Public
Account. It has two components Capital Receipts and Capital Expenditure.
NABARD is an apex development bank in India established on 12 July, 1982 with an aim of providing
services to rural India by increasing the credit flow for evaluation of agriculture & rural non form sectors.
It was set up by the Reserve Bank of India (RBI) under the chairmanship of Shri B. Sivaraman.
NABARD is a development bank for providing and regulating credit and other facilities for the promotion
and development of cottages, small scale industries, development of agriculture, village industries,
handicrafts and other rural crafts
With a view of promoting rural development and securing rural areas, NABARD is entrusted with
1.

Providing refinance to lending institutions in rural areas

2.

Bringing about or promoting institutional development and

3.

Evaluating, monitoring and inspecting the client banks

RBI sold its stake in NABARD to the Government of India, which now holds 99% STAKE. NABARD is
active in developing financial inclusion policy.

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Important Points about NABARD
Head Quarters: Mumbai
Established on: 12 July, 1982
Chairman: Dr. Harsh kumar Bhanwala
NABARD completed its 25 years on 12 July, 2007
NABARD is active in developing Financial Inclusion
It is Indias specialized bank developed by Shivaramans committee to provide credit in rural areas. It
replaced the Agricultural Credit Department (ACD) and Rural Planning and Credit Cell (RPCC) of
Reserve bank of India, and Agricultural Refinance and Development Corporation (ARDC).
NABARD undertakes the monitoring and evolution of projects will be refinanced by it
It provides training for the institutions working for the rural development.
NABARD keeps a check on client institutions
It regulates the cooperative banks and RRBs
It takes measures for improving credit delivery system, monitoring, schemes credit institutions, and
training of personnel
Helps the state governments in reaching their targets of providing assistance to eligible institutions in
agriculture and rural development