U.K Sinha Chairman of SEBI My Country-My Life L.

K Advani ULIPS regulated by- IRDA

It was established in April 1935 with a share capital of Rs. 5 crores on the basis of the recommendations of the Hilton Young Commission Reserve Bank of India was nationalized in the year 1949. T Central Board of Directors of 20 members, The Reserve Bank of India Act, 1934 was commenced on April 1, 1935. The Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank.

D. Subbaro- governor HR Khan- Deputy overner Dr. KC Chakarbarty Subir Gokarn Anand sinha

Bank rate- 9% Repo rate- 8%(previous- 8.5 pc) Reverse repo rate- 7% (previous- 7 .5pc) SLR - 24% (Statutory Liquidity Ratio) CRR-4.75 % (Cash Reserve Ratio) (changed from 5.5 to 4.75 on 2012 march)

Marginal Standing Facility rate - 9% (previous 9.5) Base Rate: 10 % -10.75 % Deposit rate :- 8.5% - 9.25%

The Reserve Bank of India performs this function under the guidance of the Board for Financial Supervision (BFS). The Board was constituted in November 1994 as a committee of the Central Board of Directors of the Reserve Bank of India.

Objective Primary objective of BFS is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions and non-banking finance companies.

Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1790; both are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors. The three banks merged in 1921 to form the Imperial Bank of India, which, upon India's independence, became the State Bank of India in 1955.