RBI ecosystem

Three kinds of relationship with RBI

Earlier descriptions often called all of these bodies “RBIReserve Bank of India. India's central bank. It regulates banks and payment systems, runs RTGS and NEFT, and holds the accounts in which banks settle with one another. subsidiaries”. The sources show three different relationships:

• Wholly owned by RBI. DICGCDeposit Insurance and Credit Guarantee Corporation. A wholly owned subsidiary of RBI that insures bank deposits, currently up to ₹5 lakh per depositor per bank., BRBNMPLBharatiya Reserve Bank Note Mudran Private Limited. A wholly owned subsidiary of RBI that prints banknotes at presses in Mysuru and Salboni., ReBITReserve Bank Information Technology Private Limited. A wholly owned subsidiary of RBI that handles RBI's IT projects and cyber security, and supports its supervision of banks through security audits., IFTASIndian Financial Technology and Allied Services. A wholly owned subsidiary of RBI that runs INFINET, the banking sector's private network, and SFMS, the messaging system behind RTGS and NEFT. and RBIHReserve Bank Innovation Hub. A wholly owned, not-for-profit subsidiary of RBI in Bengaluru that promotes financial innovation. It builds the Unified Lending Interface. are companies that RBI owns outright. DICGC is a wholly owned subsidiary of RBI, governed by the DICGC Act, 1961.^{1Deposit Insurance and Credit Guarantee Corporation. DICGC Information Leaflet. As of 29 September 2026.}
• Set up by RBI or at its instance, but not owned by it. IDRBTInstitute for Development and Research in Banking Technology. A society set up by RBI in 1996 in Hyderabad for research and training in banking technology. It built INFINET, SFMS and the National Financial Switch. is a society RBI established. NPCINational Payments Corporation of India. A not-for-profit company set up in 2008 as an initiative of RBI and the Indian Banks' Association, owned by banks. It runs retail payment systems such as UPI and the National Financial Switch. and CCILThe Clearing Corporation of India Limited. The central counterparty for India's government securities, money market, forex and rupee derivative trades, authorised by RBI. were created at RBI’s initiative but are owned by banks and financial institutions. NPCI was incorporated in December 2008 as a not-for-profit company, an initiative of RBI and the Indian Banks' Association under the Payment and Settlement Systems Act, 2007.^{7ICRA. National Payments Corporation of India: rating rationale. As of 30 June 2025.}
• Owned by the Government of India. NABARDNational Bank for Agriculture and Rural Development. A statutory development bank for agriculture and rural credit, wholly owned by the Government of India since RBI sold its last shares in 2019. and NHBNational Housing Bank. A statutory body, wholly owned by the Government of India, that finances and promotes housing finance institutions and supervises housing finance companies. were once held by RBI, which sold its stakes by 2019, and CERSAICentral Registry of Securitisation Asset Reconstruction and Security Interest of India. A Government company that runs the central registry of security interests, so lenders can check whether a property already secures a loan. is a Government company. RBI sold its remaining stakes in NABARD (26 February 2019) and NHB (19 March 2019); the Government of India now owns 100% of both.^{9Reserve Bank of India. Reserve Bank of India divests its share in NABARD and NHB (Press Release 2018-2019/2528). As of 24 April 2019.} CERSAI is a Government company, licensed under section 25 of the Companies Act, 1956, set up to run the central registry under the SARFAESI Act; the registry became operational on 31 March 2011.^{10Reserve Bank of India. Setting up of Central Electronic Registry under the SARFAESI Act 2002 (RBI/2010-2011/545). As of 25 May 2011.}

Employee numbers appear only where an official source gives them. Where none was found, the page says so rather than estimating.

Relationship map

Select an institution to see only its connections. The table under the map lists every connection and is generated from the same data. Colours show the kind of relationship with RBI.

• Wholly owned by RBI
• Set up by RBI or at its instance, not owned by RBI
• Owned by the Government of India

The institutions compared