How To Name Your Business?
Deciding a good name for the business is vitally important and challenging at the same place. There are several other factors which need to be ...Read More
Reserve Bank of India (RBI) was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank is in Mumbai since 1937. Though originally privately owned, since nationalization in 1949, the Reserve Bank is fully owned by the Government of India.
Reserve Bank of India was nationalised in the year 1949. The general superintendence and direction of the Bank is entrusted to Central Board of Directors of 20 members, the Governor and four Deputy Governors, one Government official from the Ministry of Finance, ten nominated Directors by the Government to give representation to important elements in the economic life of the country, and four nominated Directors by the Central Government to represent the four local Boards with the headquarters at Mumbai, Kolkata, Chennai and New Delhi. Local Boards consist of five members each Central Government appointed for a term of four years to represent territorial and economic interests and the interests of co-operative and indigenous banks.
As supreme banking authority in the country, the Reserve Bank of India, therefore, has the following powers:
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. The Bank was constituted for the need of following:
FUNCTIONS OF RESERVE BANK OF INDIA
The Reserve Bank of India Act of 1934 entrust all the important functions of a central bank the Reserve Bank of India.
CLASSIFICATION OF RBIS FUNCTIONS
The functions which are monetary also called as the central banking functions of the RBI relates to control and regulation of money and credit, i.e., control of bank credit, controls, issue of currency of F.E.(foreign exchange) operations, banker to the govt.(Government) and to the money market. Monetary functions of the RBI are most significant part as they are controlling and regulating the volume of money and credit in the country.
Equally important, however, are the non-monetary functions of the RBI in the context of India's economic backwardness. The supervisory function of the RBI may be regarded as a non-monetary function (though many consider this a monetary function). The promotion of sound banking in India is an important goal of the RBI, the RBI has been given wide and drastic powers, under the Banking Regulation Act of 1949 - these powers relate to licensing of banks, branch expansion, liquidity of their assets, management and methods of working, inspection, amalgamation, reconstruction and liquidation. Under the RBI's supervision and inspection, the working of banks has greatly improved. Commercial banks have developed into financially and operationally sound and viable units. The RBI's powers is to supervise have now been increased to non-banking financial intermediaries. Since independence, particularly after its nationalization 1949, the RBI has followed the promotional functions vigorously and has been responsible for strong financial support to industrial and agricultural development in the country.
BENEFITS AND BENEFICIARIES OF RBI LEGAL COMPLIANCE FOR ORGNISATION
Consequences of non-compliance of RBI related compliance are stiff. Failure to comply with the statutory requirements of RBI can result in fines, penalties, and in the most extreme cases, imprisonment for the company, Directors and/or the officer-in-charge of the Company.
We have carved a niche as one of the prime RBI Consultants based in New Delhi. The company provides complete guidance to the clients that are related to Foreign Direct Investment, Foreign Portfolio Investment, Acquisition and Transfer of Indian Immovable Property, Acquisition and Transfer of shares of Indian Company and so on. Backed by a highly qualified team, we strive hard to assist the clients in the best possible way we can.
We are engaged in offering:
EVENT BASED ADVISORY :
REGULAR APPROVALS :
SERVICES TO NBFC SECTOR
Rajput Jain and associates is the largest online service platform in India which provides easy solutions in starting their new business at affordable cost. We aim at helping the entrepreneurs at every legal and regulatory step. We stay as your partner during entire business cycle and ensure that the business keeps prospering and remains complaint.
Rajput Jain and associates is a network of experienced chartered accountants, lawyers, company secretaries, cost accountants, financial experts, expert bankers all over India to provide the needed services for small and medium size enterprises.
Want to know more about Rajput Jain & Associates?
All the information related to any client is considered confidential and never be disclosed to anyone.
Having years of experience in respective areas and backed by skilled and experienced workforce keep us ahead.
We believe in the building the good relationship with the clients that ensures the great impression.
If you are not happy with our services then you can request a refund within 30 days.
We provide 24*7 supports through phone, email and live chat.
You can pay online through EMIs, PayPal, net banking, debit card, credit card and more.
Thank you very much for all your help in setting up my new company and clearing up all outstanding business in my sole trader accounts. For the first time in years I have peace of mind regards my business accounts. Your workforce are a credit to you, the girls at reception are so helpful and Chris has been brilliant. It is very much appreciated.
A US consultancy group
Rajput Jain & Associates. are a tremendous value added to me as an executive and a busy parent. It just makes sense to delegate my tax file to them -- they are proactive, extremely service oriented, and most importantly, I am completely confident they are finding every dollar of tax savings available to me.
A Leading Service Provider
We use Rajput Jain & Associates for all our accounting, Corporation tax, VAT and other compliance needs. The service is professional, courteous and prompt. I would recommend Rajput Jain & Associates to any company requiring a comprehensive accounting and tax service.
A Leading Consultancy Firm in Dubai