RESERVE BANK OF INDIA

1. The Remittance Facility Scheme which the reserve bank has been operating since 1940 may be availed of by all-Central and State Governments, Schedule and non-schedule banks, General public.
2. The terms "Ways and Means" advances refers to- the temporary advance made to the Government by its bankers to bridge the interval between expenditure and the flow of receipts of revenues.
3. Section 17(5) of the Reserve Bank of India Act, empowers the Bank to make, to the Central and State Governments, ways and means advances which are repayable not later than- three months from the date of advance.
4. Accepting deposit and making loans and advances to public- do not fall within the functions of Reserve Bank of India.
5. Acting as note issuing authority, banker's bank and banker to the government- are the main functions of the Reserve Bank of India.
6. Issuing or making of any promissory note expressed to be payable to bearer thereof by a person other than the Reserve Bank of India or the Central Governments is prohibited under- Section 31(2) of the Reserve Bank of India Act, 1934.
7. Drawing, accepting, making or issuing of nay promissory note, hundi or bill of exchange expressed to be payable to bearer on demand by person other then the Reserve Bank of India or the Central Government is prohibited under- Section 31(1) of the Reserve Bank of India Act 1934.
8. Reserve Bank of India is the lender of the last resort to schedule commercial banks because- RBI meet directly or indirectly all the reasonable demands for financial accommodation subject to certain terms and conditions which constitute its discount rate policy.
9. Under the power derived from section 20, 21 and 21A of the Reserve Bank of India Act, 1934- The Reserve Bank of India manages the public debt and issues new loans on behalf of Central and State Governments.
10. The Public Debt Offices function under control of- Reserve Bank of India.
11. Public debt management i.e, raising the finance by Government is attended to by- Reserve Bank of India.
12. Reserve Bank of India- acts as adviser to the Government not only on policies concerning banking and financial matters but also on a wide range of economic issues including those in the field of planning and resource mobilization.
13. Maintenance of external value of the rupee is one of the essential function performed by RBI.
14. The RBI does not deal in foreign exchange directly with the public.
15. In India foreign exchange regulations are administered by RBI.
16. Effective from  22nd December, 1993 RBI has setup a new department viz., Department of Supervision which has taken over- the work relating to the supervision of commercial banks from the Department of Banking Operation and Development.
17. The supervisory function relating to financial institutes of all-India and state levels and non-banking financial companies, Special investigation including those connected with compliance and fraud, Appointment of statutory auditors for 25 public sector bank, 7 public financial companies and the Reserve bank of India- are functions of the Department of supervision set up by RBI.
18. The facility of maintaining of account by banks with RBI can not be utilized for- facilitation credit to account of third parties.
19. The Public Debt Office of the RBI- is a central depository for all type of Government securities except Treasury Bills.
20. In terms of Section 17 of the Reserve Bank of India Act, 1934, No interest paid on the deposit accounts of Central and State Government held by RBI.
21. Under Section 19 of the RBI Act, 1934 the RBI has been prohibited from- making loan or advances, drawing or accepting bills payable otherwise than on demand, allowing interest on deposits or current account.
22. Introduction of rating methodology for bank was introduce by RBI on the lines of- CAMEL.
23. Section 45 S of the Reserve Bank of India Act, 1934 as amended in 1997- prohibits the conduct of banking business by an incorporated no-banking entity like a shroff, clamped a total ban on accepting deposits by individuals and incorporated associations of individuals engaged in financial activity, has been upheld in a landmark judgement by the Supreme Court to be constitutionally valid.