Reserve Bank of India, South Zonal Office 1935 and was operated from a rented premises of the State Bank of India office building located at Parry's Corner. The present building was constructed in the 1960s by Tarapore Company. Zonal Training Centre of RBI Reserve Bank of India, South Zonal Office The Reserve Bank of India in Chennai is one of the four zonal representations of the Reserve Bank of India, the central bank of India, the other three being located in New Delhi, Mumbai, and Kolkata. The central office of the Reserve Bank is located in Mumbai. The Chennai office serves the southern region of the country.
Reserve Bank of India its nationalization in 1949. RBI has monopoly of note issue. In the 1950s, the Indian government, under its first Prime Minister Jawaharlal Nehru, developed a centrally planned economic policy that focused on the agricultural sector. The administration nationalized commercial banks and established, based on the "Banking Companies Act, 1949" (later called the Banking Regulation Act), a central bank regulation as part of the RBI. Furthermore, the central bank was ordered to support economic plan with loans. As a result of bank crashes, the RBI was requested to establish and monitor a deposit insurance system. Meant to restore the trust in