Reserve Bank of India

• The Reserve Bank of India (RBI) is India's central bank, which controls the issue and supply of the Indian rupee.

• RBI is the regulator of the entire Banking in India.

• RBI plays an important part in the Development Strategy of the Government of India.

Subsidiary of RBI

A subsidiary bank, or a subsidiary company, is a bank which is owned or controlled by any other bank or company.

Fully owned Subsidiaries of RBI:

I. Deposit Insurance and Credit Guarantee Corporation of India (DICGC)

II. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)

III. Reserve Bank Information Technology Private Limited (ReBIT)

IV. Indian Financial Technology and Allied Services (IFTAS)

Note: Now, NHB (National Housing Bank) is wholly owned by Govt. of India as after 24 April 2019 notification of RBI.

1. Deposit Insurance and Credit Guarantee Corporation of India (DICGC)

• Establishment: 15th July 1978.

• Headquarters: Mumbai

• DICGC was formed by merging Deposit Insurance Corporation (DIC) and Credit Guarantee Corporation of India
Ltd. (CGCI)

• The functions of the DICGC are governed by the provisions of DICGC Act 1961 framed by the Reserve Bank of
India.

• DICGC was established for providing insurance of deposits and guaranteeing of credit facilities.

2. Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)

• Establishment: 3rd February 1995.

• Headquarters: Bengaluru

• The BRBNMPL has been registered as a Private Limited Company under the Companies Act 1956.

• To augment the production of bank notes in India to enable the RBI to bridge the gap between the supply and
demand for bank notes in the country.

• The company manages 2 Presses one at Mysore in Karnataka and the other at Salboni in West Bengal.

• Apart from this, RBI has two more printing press both owned by Government of India: Nasik (Maharashtra) and
Dewas (Madhya Pradesh)
 • Coins are minted in four mints owned by the Government of India. The mints are located at Mumbai,
Hyderabad, Calcutta and NOIDA.

3. Reserve Bank Information Technology Private Limited (ReBIT)

• Established: 2016
• ReBIT deliver and manage IT projects of RBI.
• It assists RBI in performing risk-based supervision of regulated entities; Safeguard RBI assets by detecting and
responding to cyber-threats.

4. Indian Financial Technology and Allied Services (IFTAS)

• Financial Technology and Allied Services (IFTAS) is a wholly owned subsidiary of the Reserve Bank of India,
mandated to design, deploy & support IT-related services to the Reserve Bank of India, and all Banks and
Financial Institutions in the country.
• The IFTAS has taken over the INdian FInancial NETwork (INFINET), Structured Financial Messaging System
(SFMS) and the Indian Banking Community Cloud (IBCC) from the IDRBT (from April 01, 2016).