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
RBI (Reserve Bank of India) was set up in 1935, according to the Reserve Bank of India Act, 1934 provision. Since 1937 its central office is in Mumbai. Originally it was owned privately but after the nationalization in 1949, it is completely regulated by Government of India.
RBI was nationalized in 1949. The general superintendence of the Bank is in responsible to Central Board of Directors comprising of 20 members, one Government official from the Ministry of Finance, the Governor and four Deputy Governors, 10 nominated Directors by the Government which are selected for giving output on major economic life of the country. 4 nominated directors by the central government are appointed for representing 4 local Boards with Headquarters at Kolkata, Chennai, New Delhi and Mumbai. Local board comprise of 5 members. Each is appointed by the central Government for representing territorial, interest of co-operative and indigenous banks and economic interests.
As the supreme Bank authority, RBI enjoys the following powers:
The Reserve Bank of India Act which was commenced on 1 April, 1935 lay before the statutory basis of the bank’s functioning. The banks were established for the following purposes:
FUNCTIONS OF RESERVE BANK OF INDIA
The Act of 1934 entrust all the important functions of the central bank (Reserve Bank of India)
CLASSIFICATION OF RBI 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 the most significant part as they control and regulate the volume of money and credit in the country.
The non-monetary functions are equally important in relation with India’s economic backwardness. The supervisory function of the RBI is mostly regarded as non-monetary function. The establishment of flawless banking system in India accounts to the primary motive of RBI. Under the Banking Regulations Act, 1949, the RBI has been empowered with certain important functions like branch expansion, licensing of the banks, management, liquidity of their assets, reconstruction and liquidation, inspection and amalgamation. RBI’S strict supervision of the banks have resulted in effective functioning of the banks. The Commercial banks have developed to a commendable financial and operationally sound units. The RBI's power 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
The non-compliance with RBI could result in stringent actions. 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 established ourselves in the industry as one of the leading RBI Consultants in New Delhi. Our company provide complete insight and guidance into the queries related to Foreign Direct Investments, Acquisition and Transfer of Indian Immovable Property, Foreign Portfolio Investment, Acquisition and Transfer of Indian Company shares and more. Backed by a highly qualified team, we strive hard to assist the clients in the best possible way we can:
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