RBI Chandigarh
RBI Chandigarh is a branch office of the Reserve Bank of India situated in Sector-17 of Chandigarh City. The jurisdiction of the office extends to the States of Punjab, Haryana, Himachal Pradesh and the Union Territory of Chandigarh. It is headed by a Regional Director of the Reserve Bank of India. Presently it is headed by Smt Rashmi Fauzdar, Chief General Manager.[1]
Brief history
RBI Chandigarh started functioning on October 03, 1966.
Nearby landmarks
RBI Chandigarh is situated in Sector 17-A of Chandigarh near the forested area next to Park Plaza hotel. The officers' residential quarters are located at Char Imli.
Organisation and structure
RBI Chandigarh has the administrative control over all the currency chests functioning in the States of Punjab, Haryana, Himachal Pradesh and the UT of Chandigarh. It also has regulatory and supervisory jurisdiction over all the commercial banks, urban cooperative banks and NBFCs in these States and UT. The office of the Banking Ombudsman for this region is also located in the premises of RBI Bhopal.
Major achievements
RBI Chandigarh was one of the first offices of Reserve Bank of India to experiment with mechanised currency verification and processing system (CVPS). Before the introduction of CVPS, banknotes in RBI were examined manually by hundreds of Coin Note Examiners. The process was tedious and prone to human error. The introduction of CVPS under the leadership of Vepa Kamesam.,[2] the then Deputy Governor of RBI formed a landmark in the Clean Note Policy of RBI.[3]