The strategic aspirations of the reserve bank of india 2 essay

A Short Note On The Reserve Bank of India.

Should the RBI go for a systematic and comprehensive strategic plan in place of its earlier pragmatic approach of responding to environmental events as and when they occur? The thrust area of monetary policy formulation and managing financial sector; Evolving the legal framework to support the thrust area; Customer services for providing support and creation of positive relationship; and Organisational support such as structure, systems, human resource development and adoption of modern technology.

The Bank was established on the basis of the Hilton Young Commission. The RBI identified its strengths and weaknesses as under. The dilemma in adoption of a comprehensive strategic plan was the risk of trading off the flexibility of the pragmatic approach to creating rigidity imposed by a set model of planning.

Objectives set for managing financial sector developments such as supervision of systems and information access and assisting banking and financial institutions to become competitive globally. Most central banks around the world were established around the beginning of the twentieth century. Consider the vision and mission statements of the Reserve Bank of India.

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The strategic plan reiterates anticipation of evolving external environment in the medium-term; revisiting strengths and weaknesses evaluation of capabilities ; and doing away with the outdated mandates for enhancing efficiency in operations in furtherance of best public interests.

The strategic planning exercise was buttressed by departmental position papers and documents on various subjects such as technology, human resources and environmental trends. The major functions performed by the RBI are: Monetary policy objectives such as containing inflation and promoting economic growth, management of foreign exchange reserves and making currency available.

There are about employees at RBI, working in 25 departments and training colleges. Inthe RBI, with the assistance of a private consultancy firm, embarked on a massive strategic planning exercise. There have been sweeping changes in the economic, social and political environment.

Strengths A large body of competent offers and staff; access to key data on the economy; wide organisational network with 22 regional offices; established infrastructure; ability to attract talent; and financial self sufficiency.

The three areas in which objectives of the RBI can be stated are as below. The results of these efforts are likely to manifest in attaining a visible focus, reinforced proficiency, realisation of shared sense of purpose, optimising resource use and build-up of momentum to achieve goals.

The RBI has had to respond to it even in the absence of a systematic strategic plan. Strategic actions taken to realise the objectives fall under four categories: Weaknesses Structural rigidity, lack of accountability and slow decision-making; eroded specialist know-how; strong employee unions with rigid industrial relations stance; surplus staff; and weak market intelligence.

It was established on April 1, in accordance with the provisions of the Reserve Bank of India Act, Organisational development objectives such as development of economic research facilities, creating information system for supporting economic decision-making, financial management and human resource management.

The day-to-day management of RBI is in the hands of the executive directors, managers at various levels and the support staff. The Preamble of the RBI describes its basic functions like this: It began its operations by taking over from the Government the functions so far being performed by the Controller of Currency and from the Imperial Bank of India, the management of Government accounts and public debt.

The history of the RBI is closely aligned with the economic and financial history of India. Comment on the quality of both these statements. Historically, the RBI adopted the time-tested technique of responding to external environment in a pragmatic manner and making piecemeal changes.

Over the years, the RBI has evolved in terms of structure and functions, in response to the role as signed to it. After independence, RBI gradually strengthened its institution-building capabilities and evolved in terms of functions from central banking to that of development. There have been several attempts at reorganization, restructuring and creation of specialized institutions to cater to emerging needs.case: 2 the strategic aspirations of the reserve bank of india questions: 1.

Consider the vision and mission statements of the Reserve Bank of India.

Comment on the quality of both these statements. Case 1: The Strategic Aspirations of the Reserve Bank of India The Reserve Bank of India (RBI) is India’s central bank of the “the bank of the bankers”. It was established on April 1, in accordance with the provisions of the Reserve Bank of India Act, The RBI is India's central bank.

The Reserve Bank of India was established on April 1, in accordance with the provisions of the Reserve Bank of India Act, RBI acts as a banker to the Government and Banks. The Central Bank maintains record of Government revenue and expenditure under various heads. The distinctive competence of HelpAge India are: 2.

Prepare a strategic advantage profile for HelpAge India. the-reserve-bank-of-india-essay. Copy to clipboard. We will write a custom essay sample on The Strategic Aspirations of the Reserve Bank of India specifically for you.

for only $ $/page. Order now. Search. Related. Free Essay: INDEX 1. DEFINITION 2. FEATURES 3. HISTORY 4. ESTABLISHMENT 5.

FUNCTIONS 6. TYPES 7. Functions of Reserve Bank of India The Reserve Bank of India Act of entrust all the important functions of a central bank the Reserve Bank of India.

More about Co-Operative Banks in India. Strategic Planning & the Co. established on April 1, in accordance with the provisions of the Reserve Bank of India Act, The Central Office of the RBI, initially set up at Kolkata, is at Mumbai.

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The strategic aspirations of the reserve bank of india 2 essay
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