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No individual can have an account with RBI. Reserve Bank of India supervises/oversees the banking operations of all banks in India. They are responsible for the proper functioning of all the banks and they are also the lender to the banks (The place where banks go to borrow money if they are short of funds). They also decide the lending and deposit rates for all banks in the country.
They are not a normal bank to provide bank accounts to customers.
What else can I help you with?
Can you open the RBI current account for company?
RBI Stands for Reserve Bank of India. RBI is the central bank of India and they supervise the banking operations in the country. They do not provide banking accounts to individuals or company's So, the answer to your question is - No, you cannot open a current account for your company at RBI.
When will rbi dispense with dormant account charges in Indian banking scenario?
rbi is yet to think of constituting a committee to find what dormant account maintenance charges are and how it impacts a depositor.
Can any one can add his friend's name in his saving account as per RBI guidelines?
Yes. There are no restrictions as to who can be a joint account holder in a savings account in India. As long as the two individuals who wish to operate the account jointly agree to do so, banks do not have any problems in creating a joint account for you. RBI guidelines do not prohibit the same.
What is CLR in banking system?
cash liquidity ratio which a bank has to maintain in RBI account all the time
How much money can RBI print in one year?
unlimited is controlled mainly by amount of money RBI wants to be there in market. gold standard is gone. money is printed by taking in account of supply and inflation.
What cot code while transferring amount through RBI to any bank account?
whate is cot code
Who can open an account in RBI?
RBI is the regulator or supervisors of banking operations in India. Individuals cannot have bank accounts with them. Only banks that are authorized to provide banking services in the country are allowed to have accounts with the Reserve Bank
What are transactions that bank has to inform to RBI?
RBI has a set of guidelines that member banks have to follow in order to prevent illegal activities like money laundering, terrorist financing, tax evasion etc. if an individual has numerous small number transactions totaling up to large amounts or individual transactions over Rs. 50,000/- the banks have to inform RBI. These number limits are altered by RBI on a regular basis to ensure that malicious elements do not use this information to beat the system. Any suspicious or abnormal activity in your bank account too gets reported to RBI. For ex: If your monthly salary deposit is Rs. 50,000/- and suddenly a 5 lakh deposit gets made into your account, it will probably be reported to the RBI
Can anybody open a saving account in RBI?
RBI does not give savings accounts. It is the banker of banks or the central bank of india. Regular banks in india will offer you savings accounts and the interest rate offered currently is 4% per annum.
Who decides the saving account interest rate in banks in India?
Primarily RBI holds the power in deciding the interest rates along with other banks which are associated with this regulatory body. Up until late 2011, RBI Decided the Interest rates that banks offered on Savings Account. However, recently the RBI Deregulated this policy and gave banks the freedom to set their own interest rates on savings accounts provided they gave a minimum of 4% on them
Who was the Rbi's first governor?
Sir Osborne smith was the first RBI governor but the first Indian rbi governor was C.D.Deshmukh who was the third rbi governor
What is the present interest rate on saving bank account by rbi?
RBI does not give savings accounts. It is the banker of banks or the central bank of india. Regular banks in india will offer you savings accounts and the interest rate offered currently is 4% per annum.
