BANKING AFFAIRS

Detailed explanation-1: -In total, there are 23 departments in the RBI.

Detailed explanation-2: -Department of Government and Bank Accounts. The Department of Government and Bank Accounts(DGBA) is responsible for discharging certain core traditional central banking functions, viz., acting as bankers to the Government and banks and managing public debt of both, central and state governments.

Detailed explanation-3: -Banking Department: It consists of four sub-divisions: (i) Public Accounts Department; (ii) Public Debt Department; (iii) Deposit Accounts Department; and (iv) Securities Department. There are 14 branches of the Banking Department, each headed by a Joint/Deputy Manager.

Detailed explanation-4: -Government and Bank Accounts Department: The main task of this department is to handle and maintain the various bank’s accounts in the banking and issuing departments. Budgetary Control and Expenditure Department: Under this department, the bank’s budget and various expenditures are monitored for the different units.