RBI Bhopal

RBI Bhopal is the branch office of the Reserve Bank of India for the State of Madhya Pradesh. It is situated at Hoshangabad Road in Bhopal. The jurisdiction of the office extends to the State of Madhya Pradesh. It is headed by a Regional Director of the Reserve Bank of India. Presently it is headed by Shri Ajay Michyari.

Brief history

RBI Bhopal was established in the year 1991

Nearby landmarks

RBI Bhopal situated opposite Maida Mill on the Hoshangabad Road. The officers' residential quarters are located at Char Imli. It is one of well maintained colonies in India.

Organisation and structure

RBI Bhopal has the administrative control over all the currency chests of Madhya Pradesh. It also has regulatory and supervisory jurisdiction over all the commercial banks, urban cooperative banks and NBFCs in the State. The office of the Banking Ombudsman for Madhya Pradesh is also located in the premises of RBI Bhopal.

Major achievements

RBI Bhopal 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., the then Deputy Governor of RBI formed a landmark in the Clean Note Policy of RBI.

Following the 9/11 attacks in New York in 2001, RBI Bhopal requested the Disaster Management Institute to conduct evacuation drills for high rise buildings. This initiative formed the basis of subsequent annual disaster management drills in all offices of Reserve Bank of India.

Scandal and controversies

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