Subsidiaries of RBI : Banking Awareness Study Notes

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Banking Awareness is considered to be the high scoring section in any competitive exam. It includes two main portions, current affairs GK and static GK. In this article, we will discuss some really important Banking Awareness topics that are covered in almost all competitive exams. Also, you can download the PDF of lists of different Banking Awareness topics.

 In Banking Section, the questions are asked from following topics: History of Banking, banking terms, Marketing of Banking Products, Functions of Banks, Banks and their taglines, schemes, committees related to banking, headquarters of bank, some Banking news related, apps launched by banks, new schemes etc. 

In a series of sharing useful study material for upcoming banking exams. Here, we are providing Banking Awareness notes for all banking Exams (IBPS, SBI & Other Banking Exams).

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1 Subsidiaries of RBI : Banking Awareness Study Notes
2 National Housing Bank (NHB)
3 Bharatiya Reserve Bank Note Mudran Private Limited(BRBNMPL)
4 Deposit Insurance and Credit Guarantee Corporation (DICGC)
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Subsidiaries of RBI : Banking Awareness Study Notes

A subsidiary bank, or a subsidiary company, is a bank which is owned or controlled by any other bank or company. The subsidiary company is called the daughter company, and the company holding control over the other is known as the Parent company. i.e., the entire paid-up capital is contributed by the Parent Company.

The Reserve Bank of India has three fully owned subsidiaries:

1)National Housing Bank (NHB)
2)Deposit Insurance and Credit Guarantee Corporation of India (DICGC)
3)Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)

National Housing Bank (NHB)

 National Housing Bank was set up on July 9, 1988 under the National Housing Bank Act, 1987 as a wholly-owned subsidiary of the Reserve Bank to act as an apex level institution for housing. NHB has been established to achieve, among other things, the following objectives:
  1. To promote a sound, healthy, viable and cost effective housing finance system to all segments of the population and to integrate the housing finance system with the overall financial system.
  2. To promote a network of dedicated housing finance institutions to adequately serve various regions and different income groups.
  3. To augment resources for the sector and channelise them for housing.
  4. To make housing credit more affordable.
  5. To regulate the activities of housing finance companies based on regulatory and supervisory authority derived under the Act.
  6. To encourage augmentation of supply of build able land and also building materials for housing and to upgrade the housing stock in the country.
  7. To encourage public agencies to emerge as facilitators and suppliers of serviced land for housing.

Bharatiya Reserve Bank Note Mudran Private Limited(BRBNMPL)

 The Reserve Bank established BRBNMPL in February 1995 as a wholly-owned subsidiary to augment the production of bank notes in India and to enable bridging of the gap between supply and demand for bank notes in the country. The BRBNMPL has been registered as a Public Limited Company under the Companies Act, 1956 with its Registered and Corporate Office situated at Bengaluru. The company manages two Presses, one at Mysore in Karnataka and the other at Salboni in West Bengal.

Deposit Insurance and Credit Guarantee Corporation (DICGC)

With a view to integrating the functions of deposit insurance and credit guarantee, the Deposit Insurance Corporation and Credit GuaranteeCorporation of India were merged and the present Deposit Insurance andCredit Guarantee Corporation (DICGC) came into existence on July 15, 1978.Deposit Insurance and Credit Guarantee Corporation (DICGC), established under the DICGC Act 1961, is one of the wholly owned subsidiaries of theReserve Bank. 

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