The achievements of RBI are:
(i) RBI is one of the best central banks in the world. RBI took proactive measures during glabal economic slowdown in 2008-09 to save Indian economy,
(ii) National Bank far Agriculture and Rural Development (NABARD) was once a subsidiary of RBI. It is the first af its kind in the entire world.
(iii) The demonetisation in 2016-17 was a grand success because of the leadership role of the RBI.

Name of the complaints received by the Banking Ombudsman

and so on . . . till 15 centers.

a) Quantitative Methods of Credit Control
The methods which influence the total volume of credit in Indian economy are called quantitative or general methods.An increase in the first three measures will reduce the volume of money in circulation in India and vice versa.
i.Bank Rate Policy:
Bank rate refers to the rate at which the RBI re-discounts the bills given by the Scheduled banks.
ii. Cash Reserve Ratio (CRR):
It is the ratio of Cash reserves with the RBI kept by Scheduled banks in proportion to the total Time and Demand Liabilities with them.
iii.Statutory Liquidity Ratio (SLR):
It is the ratio of money and money equivalents kept within the bank in proportion to the total Time and Demand Liabilities with them.
iv.Open Market Operations:
The RBI directly buys or sells the securities and bills in the money market either to decrease or to increase the total volume of money.
b) Qualitative Credit Control Measures:
These methods influence the volume of money in selected or particular sectors of the economy.
i.Rationing of credit:
Maximum limit is fixed for lending to certain sectors or specific purposes. in order to include more people to avail banking services.It has also taken up the task of extending the banking system territorially and functionally to the unbanked areas.
ii. Moral Suasion:
The RBI puts pressure on the banks towards liberal or restricted lending during certain periods.

(i) Banker and Financial advisor to the Government:
(1) The RBI accepts money into the central and state governments accounts and make payments on their behalf.
(2) It manages government debts and is responsible for issue of new loans.
(3) It advises the government on the quantum, timing and terms of new loans.
(4) It provides 'ways and means advances' to the Governments to tide over temporary financial needs.
(5) It takes up the responsibility of investment of the surplus Government funds.
(6) Inter Government and inter departmental account adjustments are carried out by the RBI.
(ii) Monopoly of Note Issue:
(1) The RBI is the sole authority for the printing and issue of all currency notes in India except one rupee note.
(2) It is the duty of the RBI to ensure that sufficient number of good quality currency notes is available to the public.
(3) It exchanges currency notes and coins not fit for circulation. The One rupee note and all coins are issued by the Ministry of Finance.
(4) Currency notes are printed at Nasik, Dewas, Salboni, Mysore and Hoshangabad. (Currency notes are never printed outside India).
(iii) Banker's Bank:
(1) The relationship between RBI and other banks is just like the relationship of a commercial bank with its customers.
(2) The RBI maintains the current accounts of all commercial banks in the country. All scheduled banks should deposit a percentage of cash reserve with RBI.
(3) All banks can receive loans from RBI by rediscounting of bills and against approved securities.
(iv) Controller of Credit and Liquidity:
(1) Controlling the credit money in circulation and the interest rate in the country is a major function of RBI.
(2) For this purpose, the RBI uses quantitative and qualitative methods of credit control.
(3) Ensuring the availability of sufficient cash and credit (liquidity) for business transactions and investment purposes in the economy is the responsibility of RBI.
(v) Lender of the Last resort:
(1) In times of emergency any bank in India can approach RBI for financial assistance
(2) RBI provides them credit. When other sources of getting credit are exhausted, all banks can obtain loan from RBI and hence it is called lender of last resort.
(vi) Clearing house service:
(1) RBI acts as clearing house and maintains a clearing system for all commercial banks in India.
(2) The aggregate amount of cheques presented by a bank on other banks represents the claim by that bank on other banks.
(3) Similar claims are made by all the banks on every other bank in the clearing.
(4) A net settlement is arrived at the clearing house and accordingly the debit or credit entry is made in their current accounts.
(vii) Custodian of foreign exchange reserves:
(1) The RBI maintains a reserve of gold and foreign currencies.
(2) When foreign exchange reserves are inadequate for meeting balance of payments problem, it borrows from the International Monetary Fund (IMF).
(3) It also administers exchange control of the country.
(viii) Maintenance of Foreign Exchange Rate:
(1) The RBI manages the exchange value of the rupee in order to facilitate India's foreign trade and payments.
(2) It ensures that normal short-term fluctuations in trade do not affect the exchange rate.
(ix) Collection and Publication of Authentic Data:
(1) It has also been entrusted with the task of collection and compilation of statistical information relating to banking and other financial sectors of the economy.
(2) RBI issues monthly bulletin, annual reports and various committee reports contain treasures of authentic data.

(i) Bank of Hindustan was the first bank in India established in 1770 and was closed in 1932.
(ii) The General Bank of India was established in 1786 and was also liquidated in 1791.
(iii) Bank of Calcutta was the first Joint Stock Bank established in 1806. It was renamed as the Bank of Bengal in 1809.
(iv) Bank of Bombay in 1840 and the Bank of Madras in 1843 were established. These banks are called presidential Banks (Bengal, Bombay and Madras only).
(v) 1881 witnessed the birth of 'Audh Bank', which was later renamed into Punjab National Bank in 1894 (19-05-1894).
(vi) These Presidential Banks were amalgamated into the Imperial Bank of India on 27 January 1921. It confined its operations to the urban sector and rural sector was completely neglected in those days.
(vii) Therefore, after Independence, an Act was passed in Parliament to take over the Imperial Bank of India by the Government and State Bank of India came into being on July 1,1955.