Economy / Monetary and Credit Policy / RBI and its Subsidiaries.
RBI and its Subsidiaries.
The Reserve Bank of India (RBI) has several subsidiaries and autonomous institutions under its umbrella. Here are the notable ones:
Fully Owned Subsidiaries:
- Deposit Insurance and Credit Guarantee Corporation of India (DICGC): This subsidiary is responsible for providing insurance to depositors in banks against the loss of savings due to the failure of a bank.
- National Housing Bank (NHB): NHB is focused on promoting and regulating housing finance institutions in India. It plays a crucial role in supporting the housing sector.
- Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL): BRBNMPL is involved in the printing of currency notes in India. It contributes to the secure and efficient production of currency.
Autonomous Institutions:
- National Institute of Bank Management (NIBM): NIBM is an autonomous institution that offers training, research, and consultancy services to the banking and financial sectors.
- Indira Gandhi Institute of Development Research (IGIDR): IGIDR is an advanced research institute that focuses on issues related to development, especially in the fields of finance and economics.
- Institute for Development and Research in Banking Technology (IDRBT): IDRBT is engaged in research and development activities to enhance the use of technology in the banking sector.
These subsidiaries and autonomous institutions play crucial roles in supporting the functions and objectives of the Reserve Bank of India, ranging from ensuring the stability of the financial system to promoting research and development in the banking and economic sectors.
