Answer- Which of the following is not the subsidiary of RBI ?

Question

Answer-  Which of the following is not the subsidiary of RBI ?

Accepted Answer

DICGC           DICGC stands for Deposit Insurance And Credit Guarantee Corporation.           It ensures the money of the bank deposit holders if the bank fails to pay.           The maximum amount insured by DICGC was  1 lakh till the 4th February 2020.           After that, In the FY-2020 Budget, the insured amount was increased to  5 lakh in the wake of the Punjab and Maharashtra Cooperative Bank crisis.           It was established under the DICGC act 1961, on 15th July 1978.           All commercial bank including branches of a foreign bank in India, local area bank and RRB are insured by DICGC           However, NBFC and primary cooperative society are not insured by RBI           DICGC insures all types of account. for instance, all the Current, fixed, saving and recurring bank accounts.           Dr. M.D. Patra is the current chairman of DICGC who is also Deputy Governor of RBI .  BRBNMPL           BRBNMPL stands for Bharatiya Reserve Bank Note Mudran Private Limited.           Established in 1995 to address the demand and supply for banknotes.           It was registered as a Private Limited Company under the Companies Act of 1956           The primary function of BRBNMPL is to print the banknotes for the Reserve Bank of India RBI.           It operates with 2 presses, 1 in Mysore and 1 in Salboni.           The current capacity for both the presses is to print 16 billion note pieces per year on a 2-shift basis.           The MD of BRBNMPL is Shri Manas Ranjan Mohanty.           Headquarter Bengaluru  ReBIT           ReBIT Stands for Reserve Bank Information Technology Private Limited           ReBIT was established in July 2016 to improve the cyber resilience of the Indian banking industry.           It ensures the IT and cybersecurity requirement of the Indian banking industry           Mr Kiran Karnik is the Chairman of ReBIT  IFTAS           IFTAS stands for Indian Financial Technology and Allied Services            The primary function of IFTAS is to designs, deploys  provides essential IT-related services for the Reserve Bank of India and other financial institutions.           In conclusion, it enhances the digital infrastructure of the entire financial system.           IFTAS is established under Section 8 of the Indian Companies Act, 2013.           Mr T. Rabi Sankar is the current Chairman of IFTAS           Dr N Rajendran is the Chief Executive Officer of IFTAS           Headquarter Mumbai

Which of the following is not the subsidiary of RBI ?

Solution