Organisation and Management

The RBI's affairs are managed by a Central Board of Directors, appointed by the Central Government under the RBI Act, 1934. The Central Board has two broad categories of directors:

• Official Directors — a Governor and not more than four Deputy Governors, appointed by the Central Government, who conduct the RBI's day-to-day business.
• Non-Official Directors — up to four Directors nominated by the Central Government to represent the four local boards (one each for the Eastern, Western, Northern and Southern areas), and up to ten more Directors nominated by the Central Government from various fields (industry, commerce, agriculture, cooperation), plus one Government official nominated by the Central Government.

The four Local Boards (Mumbai, Kolkata, Chennai, New Delhi, covering the Western, Eastern, Southern and Northern regions respectively) advise the Central Board on matters of local importance and represent territorial and economic interests specific to their regions, including the interests of cooperative and indigenous banks. …