text:
Talk:Change ringing

Comments
Would it not be more sensible to have a BLUE blue line rather than a red one?! I can see this being particularly confusing for non-ringers.

"ringers (not to be confused with bird ringers)".

 * Ok I am confused, what are bell ringers? Mintguy 11:31 25 Jul 2003 (UTC)

 * Ah.. I just noticed that it says bird ringers and not bell ringers. I saw what I wanted to see. I don't think anyone would have confused ringers with bird ringers, why was it there? Mintguy 11:33 25 Jul 2003 (UTC)

It looks like this article was written by a change-ringer. Congrats! (I wish there was more changing-ringing going on in the US.) There is also, however, carillon-style bellringing, which is more common in the US and in continental Europe. This article ought to be reworked to reflect that it is change-ringing that is being discussed, especially in the history section. (Also, the playing of handbells can be considered bell-ringing.) I'm not sure what is up with he redirect from "change ringing" to "bellringing". (Is this an American vs. British usage thing, or a carillonneur vs. change-ringer usage thing, or just plain old confusion, perhaps on my part?) Aranel 19:03, 3 Aug 2004 (UTC)

 * Agreed. In fact I think I will move it... anyone want to write something on the other ways of ringing a bell??Iainscott 13:57, 4 Aug 2004 (UTC)

Bow Bells
What a first class article! I'd say it ought to be a candidate for a Wikipedia featured page. I'd like to suggest an addition about the (at one time) world-renowned Bow bells, perhaps like:

Bow Bells The church of St Mary le Bow in London has a ring of 12 bells; traditionally a Londoner could not be called a Cockney unless "born within the sound of Bow Bells". A 1926 recording of these bells became famous during WW2 by radio - the BBC General Overseas service used this recording for 10 or 15 minutes every day as a station-tuning signal before going on-air, broadcasting to resistance workers and fighters in occupied Europe.

The "Great bell of Bow" is included in the last line of the children's nursery ryme "Oranges & Lemons". Details of all the Bow bells may be found at http://london.lovesguide.com/mary_le_bow.htm, which includes a sound clip from the 1926 recording: http://london.lovesguide.com/sounds/mary_le_bow_gillett.wav.

If anyone has access to the full recording as used by the BBC, could it be possible to identify the method? L0ngpar1sh (talk) 10:27, 4 October 2010 (UTC)

Calling down?
Hi! I got here from Peer review, where you ask for "anyone who isnt a bellringer". That's me! I've made a few minor changes, and I have a question. The article says:
 * For example, if the bells start in the order 123456 and the conductor calls "3 to 4" the resulting order of the bells is 124356. This, the accepted way of calling in Devon and many towers elsewhere, is known as calling up as the bell corresponding to the number called first moves up behind the second bell. Call changes can also be called by calling down: in the example above the call would become "4 to 2" for the same result.

Shouldn't the "calling down" version be simply "4 to 3", i.e. bell 4 moves to position 3? If not, something needs to be explained better.

I'll be back with more questions later! Dbenbenn 02:27, 22 Dec 2004 (UTC)

 * The call "x to y" is shorthand for "bell number x ring after bell number y". I can see how the example confuses "bell number n" (which basically stays the same) and the "bell in the nth position" (which changes everytime the order of the bells change...) I have returned the example to the version by 144.173.231.8 as I cant remember why I changed it! I hope the example and further explanation is clearer... Many thanks! Iain 11:43, 22 Dec 2004 (UTC)

 * Okay, the "calling up" is clearer (thanks!) but I still don't get "calling down". The article says
 * For example, if the bells start in the order 135246 and the conductor calls "5 to 2" (which is shorthand for "bell number 5 ring after bell number 2") the resulting order of the bells is 132546. Call changes can also be called by calling down: in the example above the call would become "5 to 3" for the same result.
 * Wouldn't "5 to 3" mean "bell 5 goes before bell 3", i.e. it becomes 153246? Dbenbenn 20:25, 22 Dec 2004 (UTC)

 * Note to self: when giveing an example, at least try to give an acurate example! It should read: "2 to 3" for the same result.
 * Again, the call is a shorthand for "bell number 2 ring after bell number 3". Iain 22:52, 22 Dec 2004 (UTC)

 * I think we should have examples on both calling upand calling down. Both methods are in common use StormCloud 16:03, 18 July 2006 (UTC)

"mathematically proven"
Okay, here's my second question. What do you mean by:

 * Thus a "full extent" of any of the traditional methods has been mathematically proven to begin at rounds, move off through the various permutations visiting every one once and only once, and finally return safely home again to rounds — all with only neighbor-swaps from row to row.

As a mathematician, I know that sentence isn't accurate. But I can't fix it because I'm not sure what it's supposed to mean. Can you explain it better? And do you have a reference to a proof of something? Dbenbenn 01:08, 23 Dec 2004 (UTC)

 * I'm not a change ringer myself; but since I wrote that sentence I'll explain my understanding. Mathematicians and changer ringers alike please correct me if I'm wrong!

 * Here's the point: imagine that I've just come up with some algorithm which is supposed to allow you to ring a full extent. Now you could just jump in and try to use it; but then somebody would have to stand there with a big checklist to make sure that our algorithm hits every permutation once and only once. (The former condition makes it an "extent"; the latter is necessary for "trueness.") This would be tedious in the extreme; instead you would be wise to check my algorithm on theoretical grounds (using group theory and so forth) to make sure that it does what it promises; your analysis will take the form of a mathematical proof. Doops 06:44, 23 Dec 2004 (UTC)

 * Though (usually) it is the "composition" (the list of alterations the method which the conduter will call while ringing it) which is proven to be true (the simplest, if crude, way is to set your computer to working out all the changes which will be generated by a particular method and composition and checking them against each other. Other, more elegant, techniques are available and various short cuts can be often be made which depened upon the group-theoretic propeties of the particular method in question). Iain 11:02, 23 Dec 2004 (UTC)

 * Right. As I understand it, the various methods have a basic algorithm which is good for a few dozen changes at most, returning rather quickly to rounds. All longer touches, peals, and extents based on that method are compositions, incorporating periodic hiccoughs to avoid returning home prematurely. Doops 17:08, 23 Dec 2004 (UTC)

Perhaps the sentence in question means:
 * It has been mathematically proven that you can ring a true extent, beginning and ending with rounds, with a bell never moving more than one position in a change.

This sounds like a non-obvious fact, but it needs a reference. I removed the sentence. (For what it's worth, it can be restated in terms of the existence of a Hamiltonian cycle in a certain Cayley graph for the permutation group.)

Or, you could talk about the correctness-proofs of particular algorithms, such as plain hunt. Dbenbenn 18:26, 31 Dec 2004 (UTC)

Third question
I don't really understand what this means:
 * Due to the number of competitions, ringing by bands from Devon's more succesful towers is reckoned to have some of the best striking in the country.

Dbenbenn 18:43, 31 Dec 2004 (UTC)

Trimmed some details from bell ringing mechanics
After reading the peer review request, I've gone ahead and boldly trimmed some details from the bell ringing mechanics section. IMHO, the article is not primarily about ringing bells, but about ringing them in a certain way (i.e. change ringing). Hence, the reader shouldn't need to plough through a lot of "unnecessary" details before he gets to the "meat" of the article. The rest of the article reads just fine, even for a non-ringer like me. I actually learned a lot from it! --Plek 15:07, 12 Jan 2005 (UTC)

Here's the text from the original section:

Mechanics of church bellringing

A bell tower in which bellringing takes place can contain up to sixteen bells, but six or eight bells are a more common number for the average church. The bell highest in pitch is known as the treble, and the bell lowest in pitch is called the tenor. For convenience, the bells are numbered with the treble being number 1, and the other bells numbered by their pitch 2,3,4, etc. sequentially down the scale. The bells are usually tuned to a diatonic major scale, with the tenor bell being the tonic (or key) note of the scale.

The bellringers typically stand in a circle around the ringing room, each managing the rope for his or her bell above. The end of the rope is called the tail and by tucking back the tail on itself the rope can be adjusted for ringers of different heights. A little further along, approximately at the ringer's shoulder-level, is a hand-hold called a sally comprising coloured woollen tufting incorporated between the strands of the rope during manufacture. The rope passes through a hole in the ceiling up into the space (the bell-chamber) that contains the bells themselves. Each bell is suspended from a headstock, allowing it to rotate through just over 360 degrees; the headstock is fitted with a wooden wheel around which the rope is wrapped; during a session of ringing the bell sits poised upside-down while it awaits its turn to ring. By pulling the rope, the ringer upsets the balance; the bell swings down then back up again on the other side, describing a 360-degree circle. During the swing, the clapper inside the bell will have struck the soundbow, making the bell resonate exactly once. The ringer can control how quickly the bell sounds again by allowing the bell to pause in the mouth upwards position (thus postponing the sound) or conversely by prematurely ending its swing, tugging the bell back again before it has come to rest at the top of its wheel (thus sounding the bell earlier). If the bells are left in the mouth-upward position between performances, ringing can be resumed at any time; but for safety, at the end of a day's session the bells are usually "rung down" — by gradually dampening their motion, they come to rest for the night at the bottom of their cycle, mouth-down. Before the ringers can perform again on another day, the bells will have to be rung up again — by tugging on the rope, the ringers will set them swinging, gradually adding potential energy by pulling at just the right time, until once again the bell is poised upside-down.

Although ringing certainly involves some physical exertion, the successful ringer is one with practised skill rather than mere brute force; after all, even small bells are typically much heavier than the people ringing them, and can only be rung at all because they are well-blanced in their frames. The heaviest bell hung for full-circle ringing is contained in Liverpool Cathedral and weighs over four tonnes. Despite this colossal weight, it can be safely rung by one (experienced) ringer. (While heavier bells exist (for example Big Ben) they are generally only chimed, either by swinging the bell slightly or using mechanical hammers.)

Mechanics: a question of balance
Both in the text above and still in the main article, the wording says: "To ring the bell, the ringer will first pull the sally towards the floor, upsetting the bell's balance", and above too it says for ringing up: "...until once again the bell is poised upside-down". Now hang on a mo, if bells were left like that it would be dangerous! I have seen bells deliberately left up, for a wedding (or several weddings) later that same day. But they're not "balanced", "poised" or any such thing - they are left slightly beyond the mouth-up position, with the stay resting against the slider. Yes of course, all ringers know that, but that's not what the text says at the moment! L0ngpar1sh (talk) 18:18, 4 October 2010 (UTC)

OK, I altered the last sentence of the para alongside the Shoreditch pic. L0ngpar1sh (talk) 07:48, 30 October 2010 (UTC)

Handbells
Change ringing can also be carried out on handbells (small bells, generally weighing only a few hundred grams). These are held in one hand by a handle attached to the crown of the bell and sounded by moving the entire bell, usually by a flick of the wrist. Many groups of tower bell-ringers use handbells to practice (in which case, just as in the tower, one ringer handles one bell). Some bell-ringers pursue handbell ringing as an endeavour in its own right, in which case each ringer often handles two bells.

Bellringing vs. bell ringing and change-ringing vs. change ringing
One other thing: I noticed that the terms "bellringing", "bell ringing", "change-ringing" and "change ringing" are all being used in the article. I'm not a native English speaker myself, but wouldn't the proper way of writing these be: "bell ringing" and "change ringing" (as well as "bell ringers" instead of "bellringers")? --Plek 15:18, 12 Jan 2005 (UTC)

Categorization
What is a good category for this article? Oleg Alexandrov 20:01, 8 Mar 2005 (UTC)
 * Fixed. (Actually, I fixed this a month ago but forgot to record the fact here.) Doops | talk 18:17, 18 December 2005 (UTC)

True peals
I'm a bellringer and therefore a pedant, so I have a couple of issues. I've touched up the page a little in the places where I can find a good wording, but there are some other points.

A peal's acceptability is determined by the rules set by the CCCBR (http://www.cccbr.org.uk/).

Moving bells more than one place is generally called ringing "jump changes". For a peal to be acceptable under the current rules, jump changes are not permitted.

The comment on true peals is a simplification of the actual rules and has a couple of mistakes, but the explanation required to clarify the statement would be extensive. In particular, it's not necessary to ring every other change before returning to the one you just rang in order to maintain the truth of the composition. A composition can be called true if you ring the same change closer together, providing this happens in a block where all changes are rung and are rung the same number of times. So, for instance, on 6 bells where the extent is 720 changes, it is permissible to ring the same change closer than 720 changes apart if it's in a block of e.g. 1440 changes where every change is rung twice. There are more complicated rules on what consists a true peal, and these rules are ultimately a bit arbitrary and change when the central council chooses to change them.

-- Ian, --221.246.251.34 15:16, 18 December 2005 (UTC)

 * Hi. Your point about trueness embarrassed me greatly since, quite apart from the CC "round blocks the length of two or more extents" exception, as written the article would have required a peal of minor to use the same method 6 times (since switching methods would inevitably lead to falseness under its ridiculously severe definition). That was very sloppy; I've fixed it and tried to incorporate all your other points. Would you take a look and see if I've succeeded? Doops | talk 18:17, 18 December 2005 (UTC)

Major Rewrite of Method-ringing section
I have rewritten the section on method ringing to hopefully make it a bit more comprehensive. I felt that too much emphasis was placed on full peal-ringing. Some minor factual errors corrected, calls are used to extend a method, not shorten it. Added new information but the whole thing needs cleaning up.

I feel that now the article is too long, too many headings, and I propose that we create a sub-article. Any thoughts? --Andrew Hyde 13:22, 30 January 2006 (UTC)

I agree. There seems to be quite a bit of stuff appearing on Campanology that might be better off here or in a sub article too. Any idea how this could be broken down? John 14:04, 30 January 2006 (UTC)

Could most of the section regaring the details of method ringing be moved into a separate article. I think a lot of this is more technical than a lot of non-ringers need. Jimi k 14:17, 10 February 2006 (UTC)

 * I agree. As a ringer with plenty of ringing but very few methods under my belt I think that the science of method-ringing is interesting and distinct enough to have its own article. This would be a sensible split, and not scare off anyone who just wanted to know about ringing. Naturenet | Talk 16:11, 10 February 2006 (UTC)

I've moved Method Ringing to its own page - Method Ringing. Maybe we should do the same with Learning to Ring section.--Andrew Hyde 09:14, 11 February 2006 (UTC)

I think we should move Learning to Ring as well-I just came here to suggest that! John 12:23, 11 February 2006 (UTC)

What should we call the article, "Learning to Ring" is too ambigious and may refer to Carillon Ringing. --Andrew Hyde 10:14, 13 February 2006 (UTC)

 * How about "Learning change ringing" ? "Learning to ring" could also mean bird ringing, I guess! Naturenet | Talk 10:46, 13 February 2006 (UTC)

I don't understand
I found this page after reading some history in school about a famous person who was a bell ringer. The context seemed to indicate that there was a stigma attached to this activity. I don't understand this hobby. Is this a mathematical challenge? Do ringers consider themselves musicians? Is this a nostalgic way to remember monks that kept time for a town or an ancient sort of morse code?

It would be helpful to the uninitiated visitor of this page if there was something in the first paragraph about why people do this.

I hope I don't sound critical, I'm just curious. -thanks --Victoria h 23:13, 5 March 2006 (UTC)

Hi Victoria

I have taken this from the Central Council of Church Bell Ringers website, which I think sums it up pretty well:

A hobby which involves:

* being part of a team * providing a service for the church * a good social life * continually learning something new

Bell ringing is good fun! Once you have learned the basic technique you will always be made welcome when you visit other towers. There are more than 5,000 church towers and a small number of secular towers with bells suitable for change ringing.

John 23:59, 5 March 2006 (UTC)

Who was the historical figure, maybe we could find out more about this--Andrew Hyde 15:22, 8 March 2006 (UTC)

I am not sure what you are talking about? John 17:52, 8 March 2006 (UTC)

Stigma - as an encyclopaedic article we should probably mention the perceived peculiarity of bellringing. Certainly in England, most people don't do it and find it strange that people are actually keen to do it.

Famous people - Paul Revere could do with a mention, perhaps? He's the most obvious example. I suggest someone contacts the Old North Church, Boston, MA bunch for more information, I only know the sketchiest of details.

--62.58.152.52 13:16, 24 January 2007 (UTC)

Tintinnalogia?
I have never heard tintinnalogia (edit 06:39, 2006 May 10 user:Eliyyahu ) as a term for change ringing. The Google reference is to a book by Fabian Stedman (who I do acknowledge as very significant, and needs an article), but whose 300 year old language in the title for a book is not definitive these days. Can anyone else comment on the usage of this word today? Oosoom 09:40, 10 May 2006 (UTC)

I admit you are right that the term isn't used much today. However, it is the original term for change-ringing, which still finds its way in our language in words like tintinnabulation and tintinnabulary. Eliyyahu 14:28, 10 May 2006 (UTC)

 * I've been ringing for many years in S and E England, and my family have for several generations. I've never heard the term before. Naturenet | Talk 17:15, 27 May 2006 (UTC)

Its from the latin "Tintinnare" meaning "to Ring". --146.231.129.49 11:07, 8 June 2006 (UTC)

Incidentally, we at Project Gutenberg have just proofread and processed Stedman's Tintinnalogia. Perhaps it would be a good idea to put a link to it in the main page? I'm not a wikipedian, so I'll leave the editing to someone else :). --86.20.36.227 00:12, 13 June 2006 (UTC)
 * Link added. Oosoom 08:37, 13 June 2006 (UTC)

Overtones and whatnot
I just scanned this article as it's late and I don't feel like reading the whole thing. (So there.) It didn't really look like there would be a section that might contain the answer, so I figured I'd ask here. Are the bells the same as carillon bells? I mean the bells, themselves, not their execution or whatnot. I understand that they're pitched, which would make me think that they would, at least, be similar, but, as free-swinging bells, are they larger? Deeper? Do they have the same overly-prominent minor third overtone? I've been doing an inordinate amount reading about bells lately. Either I'm becoming Quasimodo or Poe. Or some sort of morose, disfigured hybrid. — Music Maker 5376  06:02, 18 April 2007 (UTC)

 * I don't think there are any major differences in profile and so on, so the physics is basically the same. English bell foundries do cast bells for carillons as well.  As for size, as stated in the article the heaviest used weighs about 4 tonnes, the lightest are probably of the order of 100g.  There is a link to some recordings of this style of benll at the bottom of the article, so you can probably judge for yourself. David Underdown 09:21, 18 April 2007 (UTC)

ASCY
Here's the best summary I can find online of the ASCY's situation in the late 18th century / early 19th:

''By 1756 however, tensions had arisen within the College Youths between the older members, and more recent recruits who on the whole tended to be the better ringers. This led to a split in the Society. The older members went off to form the Ancient Society of College Youths, whilst the remainder kept the original College Youths name (though are often referred to as the Junior Society). Although both societies came back together by 1788 and adopted the ASCY title, limited records other than membership details and peal performances exist for this period. Hence the absence of the Master’s name of 200 years ago when a toast is drunk to the their fragrant memory at the close of each Annual Dinner.'' (from )

Given this, I see no reason not to list them among the early societies. Doops | talk 12:48, 1 May 2007 (UTC)

 * The webpage is factually incorrect and I think misleads with its "older members went off to form the Ancient Society" which is not the case. The paper archives held in the "modern" ASCY archives show that there was a defection by a number of ringers (to form the separate Junior society c1756), then the College Youths renamed itself as "Ancient" then eventually became moribund. So the society formed in 1637 ceased to exist by 1780's.

 * It is also incorrect with "both societies came back together" which implies some form of reconciliation for which there is no evidence at all. There is evidence however that the Junior Society changed it's name to Ancient and then much later in the 19c did it start to say that it was formed in 1637, probably as form of response against direct competition from other societies†. So the society we now know of as the ASCY was actually founded in 1756.

 * †notably the London Scholars who rang at Shorditch, which renamed itself Society of Cumberland Youths in 1747 and then renamed itself as Society of Royal Cumberland Youths in 1872 - the Royal being an affectation like the Ancient in ASCY.

 * There are many examples of ringing societies from this era ending, and of some attempts to resurrect them. What is clear is that the modern ASCY is not the same society as the original 1637 one. Truthmasterringer 13:04, 2 May 2007 (UTC)

 * Thanks. I take it you're an ASCY-er yourself, then? Doops | talk 14:45, 2 May 2007 (UTC)

British Isles
There is a recent 12 in the Isle of Man, and slightly older 10 in Guernsey, so UK and Ireland is not an adequate description of the area. David Underdown (talk) 09:41, 11 May 2008 (UTC)

Headstock
I added an image of a dismounted bell I had handy. There are are a couple of questions for the caption: Perhaps someone who is more of an expert would consider those matters in the caption and accompanying text. Cheers Kbthompson (talk) 11:51, 11 July 2008 (UTC)
 * 1) It looks like the entire bell mount has been taken down - or is it mounted in a temporary structure.
 * 2) To my mind, the metal headstock exists to counter-balance the weight of the bell - and this should perhaps be mentioned in the text (otherwise the weight of the bell would always cause it to hang down) - the bell ringer only has to cope with moving the mass of the bell - not the weight.
 * 3) The wheel, in this case, appears to be metal - not wood.
 * 4) The headstock appears to be specifically cast iron - not generic metal.
 * I think it must be in a temporary structure - if you look at the (bottom) righthand edge of the bell, you can see that it's touching the frame, so obviously the bell could not turn in this frame. The metal headstock, and the fact that the top of the bell is above the centre of the wheel do counter-balance it to some extent, which makes it easier to raise the bell for ringing, and to pull it off, but the natural poisiton of any bell is mouth down.  The ringer first has to "raise" the bell by slowly increasing the amplitude of its swing, until the bell is ringing a full-circle with each pull (think of pushing a child on a swing, give it a small push just as it starts it's swing, and the child rises higher and higher on each swing, with a bell, it's pulling the rope at the appropriate time which adds the impetus).  However, once up, it's the stay (the pice of wood sticking up on the right hand side) and the slider (the lack of which is another give away for this being a temporary frame) that allow the bell to rest mouth uppermost, the slider is a piece of wood that runs across the frame, under the bell, pivotted at the wheel side, and with two stops at a given space apart on the side of the frame where the stay is, as the bell swings full circle, the stay contacts the slider, and the free end slides across until it is in contact with the stop, when the bell swings the other way, the slider is knocked back the other way, and when the stay is allowed to come to rest against the slider, it will hold the bell mouth-up (the ringer should stop the bell short of the full travel of the slider when ringing normally, if you don't eventually the stay, as it is designed to do, will break, to prevent damage to the bearings etc, and the bell will turn over and over, potentially pulling the ringer up toward the ceiling of the ringing chamber, or burning their hands).  It seems to me that the wheel is basically wooden, but with some metal reinforcement where it joins to the headstock (a metal wheel would probably wear the ropes out too quickly).  Cast iron is fairly commonly used, but I wouldn't like to swear to it.  Interestingly, the headstock has Warner, London cast into it, indicating that it was probably reused from an earlier set of bells, since the current bells were cast in 1994 by Taylors, and Warner's is long defunct.  David Underdown (talk) 13:02, 11 July 2008 (UTC)

Fascinating ... I started out with temporary, but thought the bearings looked too permanent. Worth checking. Thanks Kbthompson (talk) 13:37, 11 July 2008 (UTC)
 * The bearings will be sealed ball-bearing units, which would normally be bolted to the "real" frame - you very occasionally still come across plain-bearings (i.e. basically just an axle in a sort of metal cup I think), but usually only in places where the bells haven't been upgraded in a very long time. David Underdown (talk) 13:46, 11 July 2008 (UTC)

Tuning Question
If there is such a thing as a "normal" tuning for the bells, what is it? That is to say, if there are 6 bells, to what notes are the bells tuned? If specific notes are not involved, are there specific intervals between the notes of the bells? JimCubb (talk) 01:55, 6 July 2010 (UTC)
 * As the article says in the first paragraph after the lead "The bells are usually tuned to a diatonic major scale, with the tenor bell being the tonic (or key) note of the scale." However, the ring may be in any key, and the tuning is sometimes rather approximate - rings may well consist of bells cast centuries apart, with different profiles, and hence differing acoustic properties.  Details of all rings can be found in Dove's Guide for Church Bell Ringers, online at http://dove.cccbr.org.uk/dove.php where you'll see that key is one of the options you can search on.  For any individual tower the nominal pitch of each bell is also given.  Modern bells are fine-tuned by (basically) turning on a lathe and scraping out metal from the inside until the desired pitch is precisely achieved, but this is a fairly recent innovation (well, within the last century!).  This said the acoustics of bells are quite peculiar.  The strike note (i.e. what's heard when the clapper strikes the soundbow of the bell) is quite different from the hum note, which is what's usually perceived as the pitch of the bell (this difference is what gives a bell it's characteristic "ding" sound), and the overtones are not, from what little I understand, the "standard" harmonic series.

If hand bells and tower bells have the same acoustic qualities and if I remember correctly from my reading of the acoustic qualities of hand bell, two very large ifs, a tower bell's first overtone is a major 12th above the fundamental. The tuning process takes the natural harmonic and tunes it to the fundamental of the bell a major 12th above the given bell. I dimly remember that the tuning process involves the shoulder of the bell. Further than that, I have no clue.

Thank you for your answer. JimCubb (talk) 03:34, 11 July 2010 (UTC)

Half-muffling
The section on half-muffling was originally at Half-muffled. I should have mentioned this in the edit summary but forgot. LordVetinari (talk) 08:27, 1 June 2011 (UTC)

Numbering of bells
user:Contratrombone64 added the comment "[says who??]" the the statement "For convenience, the bells are referred to by number, with the treble being number 1 and the other bells numbered ... sequentially down the scale. (This system often seems counterintuitive to musicians [says who??], who are used to a numbering which ascends along with pitch.)". I have reverted this since most music theory does number upwards, in a scale the supertonic is referred to as the second, the mediant as the third and so forth up to the leading note as the seventh. Frets on a stringed instrument are numbered upwards, as are the keys on a piano (look next time a tuner has the keys off the board). The original contributor was careful to say "often" not "always". Both as a learner myself and nowadays when teaching it is apparent that musicians often do have a problem with the numbering, particularly when talking about a "flat 5th" when a musician knows it is the 4th of a scale that is flattened! Martin of Sheffield (talk) 10:11, 20 July 2011 (UTC)

External links modified
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External links modified
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 * Two instances of this, neither work at present. The citations/links need reworking.  If no-one else does I'll have a go later. Martin of Sheffield (talk) 11:34, 28 February 2016 (UTC)

purpose of article
This article is called change ringing, yet it has a large first section on the mechanics of bells, which is more appropriate in another article, such as ring of bells. Propose cutting down the long mechanics of bells section to a simple explanation of the constraints that full circle ringing of tower bells imposed to cause change ringing to develop, and adding more material and link ring of bells as a main article. Dougsim (talk) 06:32, 10 April 2016 (UTC)
 * In principle, yes. Don't do too much cutting though, the issues of inertia are essential to understanding both the why and how.  To be honest, all of the bell ringing (and indeed possibly even all bell-related) articles need a thorough overhaul to reduce the amount of duplication whilst still keeping each article full enough for reader comprehension (WP:RF).  I've just been having a look at WP:WikiProject Music and cannot see anywhere that bells fit in (except possibly as a footnote to percussion).  Even the template seems to be a bit hit-and-miss.  Perhaps there ought to be a sub-project to bring together all aspects of campanology from lists of the heaviest bells through to portable rings. Martin of Sheffield (talk) 10:17, 10 April 2016 (UTC)

Agree there should be no precipitate action, but something should be done here. Regarding inertia, as an engineer I know what is being meant, but does the lay reader? I felt this was making the subject obscure; people understand weights and masses, but maybe momentum will do.

The ringing articles should be encyclopedic and accessible, and there is great variation. Ring of bells is particularly poor, though I have started a re-write there - first got some headings in. The articles concerned seem to be;

Change ringing - Covers continuous method ringing and call changes. Too much about the mechanism. Should call changes be here? Ring of bells - Needs work as it is particularly allied to English style ringing, and not enough about the mechanism. Bells - A large subject.make sure link are in. full circle ringing - International and applies to mechanism only Method ringing - Quite comprehensive, and is this sub-set of change ringing? Peal - Specific but allied Grandsire - specific but allied

Any more?

The Issue to sort out really is the definition of change ringing. The CCCBR says "The origins of change ringing lie in the sixteenth century when church bells began to be fitted with a full wheel. This gave ringers control of their bell, allowing sets of bells (rings) to be rung in continously (sic) changing patterns.

From Encyclopedia Britannica 1911...

Change-ringing.—When a given number of bells are rung over and over again in the same order, from the highest note, or “treble,” to the lowest, or “tenor”—1, 2, 3, 4, 5, 6, 7—they are said to be rung in “rounds.” “Changes” are variations of this order—e.g. 2 1 3 5 4 7 6, 2 3 1 4 5 6 7; and “change-ringing” is the art of ringing bells in “changes,” so that a different “change” or rearrangement of order is produced at each pull of the bell-ropes, until, without any repetition of the same change, the bells come back into “rounds.”

A further application is that in bell-ringing, of the variations in order in which a peal of bells may be rung. The term usually excludes the ringing of the bells according to the diatonic scale in which they are hung (see BELL). It is from a combination of these two meanings that the thieves' slang phrase " ringing the changes " arises; it denotes the various methods by which wrong change may be given or extracted, or counterfeit coin passed. Read more: CHANGE (derived throug... - Online Information article about CHANGE (derived through... http://encyclopedia.jrank.org/CAU_CHA/CHANGE_derived_through_the_Fr_f.html#ixzz45VgSRep0

So call change ringing, which is not continuous, is NOT change ringing. So where do we put it, or is it just linked to? ie; remove section on call changes from change ringing.

Dougsim (talk) 09:57, 11 April 2016 (UTC)

 * I would look for a better definition of change-ringing! CCCBR would be more authoritative than the Encyclopaedia Britannica (see Change Ringing for example).  Call changes most definitely are change-ringing.  For instance the EB article doesn't mention methods or principles.  I'll think about structure, the whole campanology field is wide and very cross linked. Martin of Sheffield (talk) 11:01, 11 April 2016 (UTC)

Interesting. You see there's a big debate going on in the RW at the moment, in which I have yet to read someone properly defining these things. Dougsim (talk) 11:07, 11 April 2016 (UTC)

 * I'm afraid I'm out of touch with RW. I've recently changed home tower and we don't get a copy where I ring now. Martin of Sheffield (talk) 11:13, 11 April 2016 (UTC)

added images
I've added some images of St Bees bells to show mouth down and mouth up - this speaks a thousand words.

There seem to be very few images like this in the public domain, which is a pity. Everyone seems to do them for their own web site etc. Also sad lack of public domain animations.

Dougsim (talk) 10:34, 11 April 2016 (UTC)

CCCBR link
Realise CCCBR is a re-direct page - should it not have its own? Dougsim (talk) 11:35, 11 April 2016 (UTC)

 * It's briefly also mentioned on The Ringing World! I'm seriously thinking about proposing a campanology project, part of the music (or possibly percussion) project.  We need to hunt out all bell-related articles and get the hat notes sorted out.  I would suggest a target plan something like:

Campanology
 * History
 * Lists (largest, oldest etc)
 * Bells
 * forms and materials
 * tuning
 * hanging
 * Structures
 * Integral towers
 * campaniles
 * bell cotes (and small gables)
 * (large) bell gables
 * clocks
 * Ringing
 * change ringing
 * Call changes
 * Methods and principles
 * Are individual methods worthy of note?
 * Veronese
 * Carillon (inc Ellacombe)
 * handbells
 * Percussion section ("cow bells")
 * Organisations
 * CCCBR (inc RW, use a redirect)

Comments? Martin of Sheffield (talk) 11:54, 11 April 2016 (UTC)

Strongly agree, this is a good structured way ahead rather than the haphazard approach at the moment. Will think more about this. Just sorted out the article on bell-ringer a bit, which said they were a dying breed, and got English ringing in there.

Dougsim (talk) 21:47, 11 April 2016 (UTC)

I have done some more work on change ringing - got the lead to explain that change ringing is not just permutations. What is needed to make this all a project?

Also edited full circle ringing to improve narrative. Dougsim (talk) 06:56, 18 April 2016 (UTC)

 * I've been busy sorting out the references and citations for Raasay which were in a right old mess. I also need to get back to Subhas Chandra Bose to complete some tidying up there.  Moving back to bells; I see two options:

 * 1) A subproject of music
 * 2) Get the campanology page shaken into shape as a master page for the subject with main page hat notes to the specific articles.  Likewise all the articles need their hat notes back upwards as well as cross links.
 * 3) Both!

Let's have a quick discussion on the way forward - Doug, would you care to ping all those with recent edits on the topics? Can we aim for closure on Saturday and then move forward. Martin of Sheffield (talk) 08:48, 18 April 2016 (UTC)

I've got time at the moment to sort out articles associated with Engish bell ringing that I can see just need some formatting, adding relevant material, making more readable and adding graphics. For this little digging out of material is needed; it's all relatively accessible - I've been ringing for over 50 years and have this to hand, but to embark on management of a large project requires more thought and time. I think therefore it's best to follow the hat notes notes route short term. Dougsim (talk) 06:33, 20 April 2016 (UTC)

Please all see talk:campanology. Martin of Sheffield (talk) 23:04, 30 April 2016 (UTC)

External links modified
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 * Added archive https://web.archive.org/web/20141021112627/http://www.kcacr.org.uk/ww1page/roh.htm to http://www.kcacr.org.uk/ww1page/roh.htm#Alphabetical
 * Corrected formatting/usage for http://www.ststephens.me.uk/web/the_city.htm#ringers
 * Added archive https://web.archive.org/web/20090920091959/http://math.boisestate.edu:80/~tconklin/MATH124/Main/Notes/8%20Group%20Theory/Group%20Theory/The%20Hunting%20Group.pdf to http://math.boisestate.edu/~tconklin/MATH124/Main/Notes/8%20Group%20Theory/Group%20Theory/The%20Hunting%20Group.pdf
 * Added archive https://web.archive.org/web/20160103031112/http://www.cccbr.org.uk/prc/pubs/bellsAndBellringing.php to http://www.cccbr.org.uk/prc/pubs/bellsAndBellringing.php
 * Added archive https://web.archive.org/web/20081120235513/http://www.changeringing.co.uk/wiki/index.php/Main_Page to http://www.changeringing.co.uk/wiki/index.php/Main_Page

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Firing
I've flagged '"hips" or "shoots"' as dubious. Can anyone confirm or deny the use of these terms? I've never heard them in the UK but that doesn't mean that they are not used there or abroad. The fact that the IP user refers to firing as a "method" makes me a little suspicious. The original edit was by, and it is only edit under that IP. Martin of Sheffield (talk) 10:50, 7 March 2017 (UTC)

Some history
I have no knowledge of change-ringing myself. But I recently came across this source https://www.whitingsociety.org.uk/old-ringing-books/snowdon-standard-methods.html which shows that "legitimate" methods of change-ringing in England changed, controversially, in 1903. Should anyone want to expand the "History" section, this may be a useful source. Maproom (talk) 22:17, 22 April 2021 (UTC)

 * Thanks Maproom, the 1903 method decisions certainly are a notable event marking the decline of certain treble bob and delight methods. The Whiting society online books are a good source of material. Cheers Qazwsx777 (talk) 09:39, 23 April 2021 (UTC)

Number of unringable rings
Doesn't add up! 930+55+12 = 997, not 985 as stated Mdrb55 (talk) 19:07, 5 June 2022 (UTC)

title: Talk:Change ringing


text:
Talk:Robert Byrd

Mafia involvement
I have released/semi redacted fbi documents about his mafia involvement in West Virginia. I’d be happy to provide them here. I don’t believe these specifics are public knowledge. 161.130.190.7 (talk) 19:36, 24 January 2023 (UTC)

Semi-protected edit request on 6 April 2023
You might add that he was the last sitting U.S. senator to have served during the administration of Dwight D. Eisenhower. 69.112.133.29 (talk) 22:57, 6 April 2023 (UTC)
 * Red information icon with gradient background.svg Not done: please provide reliable sources that support the change you want to be made.  — Paper9oll  (🔔 • 📝)  14:55, 7 April 2023 (UTC)

license: Creative Commons - Attribution Share-Alike - https://creativecommons.org/licenses/by-sa/4.0/

title: Talk:Robert Byrd


text:
Talk:Horse (zodiac)

Western Sign
I would like to know why the equivalent Western Zodiac sign to the Chinese Horse was switched from Gemini to Aquarius. It doesn't make sense in any possible way. I cannot see any math behind it neither any real reasonable argument for doing so, it got even really stupid since the period of the year ruled by this sign would rather match with Gemini than Aquarius. These switches made in the hole section of articles on Chinese astrology made of the dialogue between the two systems (Western and Eastern) that are both based on planets and sky observation a completely incoherent mess and seemingly based on chaotic whims of not really well prepared mystics. I just want a reasonable explanation, that's all, I wouldn't have anything against these changes if they were at least somehow reasonable. —Preceding unsigned comment added by 187.20.141.53 (talk) 18:03, 25 February 2011 (UTC)

 * I want to know why it's been removed altogether now. Those equivalents are necessary for comparison.
 * --68.54.133.246 (talk) 21:38, 20 October 2012 (UTC)

Untitled
Hmm. maybe something on "Fire-Horses" might be in order. (yes, I am one :) -- Cimon Avaro on a pogo-stick 11:45 25 Jul 2003 (UTC)

I don't know why there is no information about Fire Horses. Anyone who wants to know about the Year of the Horse should know about the Fire Horse. There have been studies on Fire Horses as well.  R430nb2 03:33, 23 September 2007 (UTC)

Chinese Character
I thought the Chinese symbol for 'Year of the Horse' was 午, as apposed to 馬, which just means 'Horse'. I could be wrong though. Could somebody please verify which is correct. Sadako No Deshi 18:51, 18 July 2006 (BST)

 * The one we have up on the article is the correct symbol. TheGoodSon 18:06, 18 July 2006 (UTC)

On which basis have you deduced that Italy is a Horse country? Usually it is said that Italy is either Dog or Dragon. Klava76
 * Who comes up with these? And what is Australia? Aronzak (talk) 07:03, 25 September 2008 (UTC)

List of Celebrities Sign (Chinese zodiac)
I vote for making a new article, List of Celebrities Sign (chinese zodiac) - with a list of famous persons of all signs (separeted by sign/element), something like the List of games Daniel Leite 04:25, 28 March 2007 (UTC)
 * Since no one protested and I agree with you, I boldly went ahead and created the Category Category:List_of_Celebrities_(Chinese_Zodiac) and the subcategories for each sign. I'm currently adding the categories to the current Year of the Dog celebrities (I will remove the section afterwards, replacing it with a link).
 * Now, it would be great if you and all the other regulars (Maestro, VeronicaPR, IrishPearl etc.) would each take a Zodiac Sign and do the same, since it would take ages to do this alone. Teshik 12:34, 6 April 2007 (UTC)

Split contested, candidate for deletion
Hrmpf. In the very minute I finally got the Dog article finished, the new categories were put up into the Deletion candidates. Go here for details, and please tell if you want the categories kept, deleted, or if you got another suggestion entirely. I've stopped editing for now. Teshik 14:55, 6 April 2007 (UTC)

remove list of people
Do not reply here; go to centralized discussion at Talk:Rat (zodiac). — coe l acan — 18:16, 6 April 2007 (UTC)

Season
If the month associated with Horses is June, why is the season associated Summer? If I'm not mistaken, aren't the first three weeks of June Spring and not Summer...?--Tainted Drifter 11:36, 28 June 2007 (UTC)

elements
I recently saw the trailer to the movie "Fire Horse" and I was wondering if I can find more information on specific elements of a zodiac sign. For example, according to the movie, the year of the fire Horse is a year that if the children are born in that year, they will bring great misfortune to the family. Let me know! Mapletip 01:20, 4 August 2007 (UTC)

Fire Horse
I'm not 42, but I think that there should probably be a new section or page on fire Horses. See. I've heard that some women may even have had abortions because of the intensity of superstition. Aronzak (talk) 07:01, 25 September 2008 (UTC)
 * Agree, that is a very well known and wide-spread superstition regarding women born in the fire Horse year.--2.241.91.182 (talk) 14:56, 16 October 2014 (UTC)

Characteristics and traits of those born Year of the Horse
This article could say what characteristics and traits those born Year of the Horse are supposed to have. Vorbee (talk) 15:58, 31 July 2018 (UTC)

Remove list of people, again
Please chime in at Talk:Rat_(zodiac) regarding removing the list of people from all Chinese zodiac articles. -- Elmidae (talk · contribs) 18:26, 14 March 2020 (UTC)

Wiki Education assignment: HUM 202 - Introduction to Mythology
— Assignment last updated by Rockethound (talk) 20:44, 17 October 2022 (UTC)

Information in Lead
Information in lead is not covered in article. Personalities section has no citations. MPears11 (talk) 23:02, 13 February 2023 (UTC)

Wiki Education assignment: HUM 202 - Introduction to Mythology
— Assignment last updated by Rockethound (talk) 23:23, 21 March 2023 (UTC)

History
In the paragraph on "History", we see: "A group of Chinese figures in OUR collection ..." (my emphasis). Does Wikipedia have any collection of objects? If not, WHOSE collection is being described? This bit clearly needs editing! Moral: Don't just "cut and paste" from elsewhere! Heraldica (talk) 10:38, 6 November 2023 (UTC)

title: Talk:Horse (zodiac)


text:
Talk:Oracle Team USA

Comments
This article needs context!!! I had to read to the very end before I had any idea whatsoever what the subject of the article is, and I am still not quite sure... -- Cimon Avaro on a pogo-stick 11:50 25 Jul 2003 (UTC)

Good point, thanks. I've tried to add some context, but I don't know if it is enough. What sorts of questions would you like to see answered? --User:Halmonster

 * I think you nailed it. Well done! -- Cimon Avaro on a pogo-stick 10:50 26 Jul 2003 (UTC)

Oracle BMW Racing has been renamed to BMW Oracle Racing. I'm not sure how that should be covered in this article. nroose Talk 12:58, 6 Sep 2004 (UTC)

Didn't BMW just leave Oracle? YellowAries2010 (talk) 03:28, 31 December 2010 (UTC)

 * Yes. it did. I have modified the article accordingly.--Gautier lebon (talk) 09:18, 31 December 2010 (UTC)

The wing
It seems to me that the section on the wing should be moved to the article USA 17 (yacht). Comments?--Gautier lebon (talk) 09:34, 11 February 2010 (UTC)
 * I agree. Details about the construction of the boat should be in the USA 17 (yacht) article. Boatman (talk) 11:30, 11 February 2010 (UTC)

Redirect
Redirected page to Oracle Racing. The syndicate is know known just as Oracle Racing.--Subman758 (talk) 18:37, 16 February 2011 (UTC)

Broken Links
All three links at the bottom yield 404 (File Not Found) errors. Maybe the article is no longer useful. — Preceding unsigned comment added by Donfbreed2 (talk • contribs) 19:40, 28 December 2012 (UTC)
 * Fixed. Mojoworker (talk) 18:39, 29 December 2012 (UTC)

Title Change
Since the name of the team is now Oracle Team USA, I will be changing the page name to that. Bikeboynate (talk) 03:41, 17 June 2013 (UTC)

title: Talk:Oracle Team USA


text:
Reserve Bank of India

The Reserve Bank of India, abbreviated as RBI, is India's central bank and regulatory body responsible for regulation of the Indian banking system. Owned by the Ministry of Finance, Government of India, it is responsible for the control, issue and maintaining supply of the Indian rupee. It also manages the country's main payment systems and works to promote its economic development. Bharatiya Reserve Bank Note Mudran (BRBNM) is a specialised division of RBI through which it prints and mints Indian currency notes (INR) in two of its currency printing presses located in Mysore (Karnataka; Southern India) and Salboni (West Bengal; Eastern India). The RBI, along with the Indian Banks' Association, established the National Payments Corporation of India to promote and regulate the payment and settlement systems in India. Deposit Insurance and Credit Guarantee Corporation was established by RBI as one of its specialized division for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.

Until the Monetary Policy Committee was established in 2016, it also had full control over monetary policy in the country. It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid. The RBI was nationalised on 1 January 1949, almost a year and a half after India's independence.

The overall direction of the RBI lies with the 21-member central board of directors, composed of: the governor; four deputy governors; two finance ministry representatives (usually the Economic Affairs Secretary and the Financial Services Secretary); ten government-nominated directors; and four directors who represent local boards for Mumbai, Kolkata, Chennai, and Delhi. Each of these local boards consists of five members who represent regional interests and the interests of co-operative and indigenous banks.

It is a member bank of the Asian Clearing Union. The bank is also active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion (AFI). The bank is often referred to by the name 'Mint Street'.

Preamble
The preamble of the Reserve Bank of India describes the basic functions of the reserve bank as:

"...to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth."

History
The Reserve Bank of India was established in 1934, under the Reserve Bank of India Act. Though privately owned initially, it was nationalised in 1949 and since then fully owned by the Ministry of Finance, Government of India (GoI).

1935–1949
The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the First World War. The bank was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance, also known as the Hilton Young Commission. Eventually, the Central Legislative Assembly passed these guidelines as the RBI Act 1934. India was the first colony to have its own central bank.

The original choice for the seal of RBI was the East India Company Double Mohur, with the sketch of the Lion and Palm Tree. However, it was decided to replace the lion with the tiger, the national animal of India. The Preamble of the RBI describes its basic functions to regulate the issue of banknotes, keep reserves to secure monetary stability in India, and generally to operate the currency and credit system in the best interests of the country. The Central Office of the RBI was established in Calcutta (now Kolkata) but was moved to Bombay (now Mumbai) in 1937. The RBI also acted as Burma's (now Myanmar) central bank until April 1947 (except during the years of Japanese occupation (1942–45)), even though Burma seceded from the Indian Union in 1937. After the Partition of India in August 1947, the bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations. Though set up as a shareholders' bank, the RBI has been fully owned by the Government of India since its nationalisation in 1949. RBI has a monopoly of note issue.

1950–1960
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 nationalised 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.

1961–1968
As a result of bank crashes, the RBI was requested to establish and monitor a deposit insurance system. Meant to restore the trust in the national bank system, it was initialized on 7 December 1961. The Indian government founded the funds to promote the economy and used the slogan "Developing Banking". The government of India restructured the national bank market and nationalized a lot of institutes. As a result, the RBI had to play the central part in controlling and supporting this public banking sector.

1969–1984
In 1969, the Indira Gandhi-headed government nationalised 14 major commercial banks. Upon Indira Gandhi's return to power in 1980, a further six banks were nationalised. The regulation of the economy and especially the financial sector was reinforced by the Government of India in the 1970s and 1980s. The central bank became the central player and increased its policies a lot for various tasks like interests, reserve ratio and visible deposits. These measures aimed at better economic development and had a huge effect on the company policy of the institutes. The banks lend money in selected sectors, like agricultural business and small trade companies. The Banking Commission was established on Wednesday, 29 January 1969, to analyse banking costs, effects of legislations and banking procedures, including non-banking financial intermediaries and indigenous banking on Government of India economy; with R.G. Saraiya as the chairman.

The branch was forced to establish two new offices in the country for every newly established office in a town. The oil crises in 1973 resulted in increasing inflation, and the RBI restricted monetary policy to reduce the effects.

1985–1990
A lot of committees analysed the Indian economy between 1985 and 1989. Their results had an effect on the RBI. The Board for Industrial and Financial Reconstruction, the Indira Gandhi Institute of Development Research and the Security & Exchange Board of India investigated the national economy as a whole, and the security and exchange board proposed better methods for more effective markets and the protection of investor interests. The Indian financial market was a leading example for so-called "financial repression" (Mckinnon and Shaw). The Discount and Finance House of India began its operations in the monetary market in April 1988; the National Housing Bank, founded in July 1988, was forced to invest in the property market and a new financial law improved the versatility of direct deposit by more security measures and liberalisation.

1991–1999
The national economy contracted in July 1991 as the Indian rupee was devalued. The currency lost 18% of its value relative to the US dollar, and the Narsimham Committee advised restructuring the financial sector by a temporal reduced reserve ratio as well as the statutory liquidity ratio. New guidelines were published in 1993 to establish a private banking sector. This turning point was meant to reinforce the market and was often called neo-liberal. The central bank deregulated bank interests and some sectors of the financial market like the trust and property markets. This first phase was a success and the central government forced a diversity liberalisation to diversify owner structures in 1998.

The National Stock Exchange of India took the trade on in June 1994 and the RBI allowed nationalised banks in July to interact with the capital market to reinforce their capital base. The central bank founded a subsidiary company—the Bharatiya Reserve Bank Note Mudran Private Limited—on 3 February 1995 to produce banknotes.

2000 - 2009
The Foreign Exchange Management Act, 1999 came into force in June 2000. It should improve the item in 2004–2005 (National Electronic Fund Transfer). The Security Printing & Minting Corporation of India Ltd., a merger of nine institutions, was founded in 2006 and produces banknotes and coins.

The national economy's growth rate came down to 5.8% in the last quarter of 2008–2009 and the central bank promotes the economic development.

Since 2010
In 2016, the Government of India amended the RBI Act to establish the Monetary Policy Committee (MPC) to set. This limited the role of the RBI in setting interest rates, as the MPC membership is evenly divided between members of the RBI (including the RBI governor) and independent members appointed by the government. However, in the event of a tie, the vote of the RBI governor is decisive.

In April 2018, the RBI announced that "entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling virtual currencies," including Bitcoin. While the RBI later clarified that it "has not prohibited" virtual currencies, a three-judge panel of the Supreme Court of India issued a ruling on 4 March 2020 that the RBI had failed to show "at least some semblance of any damage suffered by its regulated entities" through the handling of virtual currencies to justify its decision. The court challenge was filed by the Internet and Mobile Association of India, whose members include some cryptocurrency exchanges whose businesses suffered following the RBI's 2018 order.

Structure

The central board of directors is the main committee of the central bank. The Government of India appoints the directors for a four-year term. The board consists of a governor, and not more than four deputy governors; four directors to represent the regional boards; two – usually the Economic Affairs Secretary and the Financial Services Secretary – from the Ministry of Finance and ten other directors from various fields. The Reserve Bank – under Raghuram Rajan's governorship – wanted to create a post of a chief operating officer (COO), in the rank of deputy governor and wanted to re-allocate work between the five of them (four deputy governor and COO).

Two of the four deputy governors are traditionally from RBI ranks and are selected from the bank's executive directors. One is nominated from among the chairpersons of public sector banks and the other is an economist. An Indian Administrative Service officer can also be appointed as deputy governor of RBI and later as the governor of RBI as with the case of Y. Venugopal Reddy and Duvvuri Subbarao. Other persons forming part of the central board of directors of the RBI are Revathi Iyer, Sachin Chaturvedi, Satish Kashinath Marathe, Swaminathan Gurumurthy, Anand Gopal Mahindra, Venu Srinivasan, Pankaj Ramanbhai Patel, Ravindra H. Dholakia, Ajay Seth, and Vivek Joshi.

Executive Directors (ED) consist of M. Rajeshwar Rao, Lily Vadera, Rabi N. Mishra, Smt. Nanda S. Dave, Anil K. Sharma, S. C. Murmu, T. Rabi Sankar, Janak Raj, P Vijayakumar, Indrani Banerjee, O.P. Mall and Sudha Balakrishnan (Chief Financial Officer).

Sudha Balakrishnan, a former vice-president at National Securities Depository Limited, assumed charge as the first chief financial officer (CFO) of the Reserve Bank on 15 May 2018; she was given the rank of an executive director.

The bank's current governor is Shaktikanta Das. There are currently four deputy governors Swaminathan J, M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar.

Branches and support bodies

The RBI has four regional representations: North in New Delhi, South in Chennai, East in Kolkata and West in Mumbai. The representations are formed by five members, appointed for four years by the central government and with the advice of the central board of directors serve as a forum for regional banks and to deal with delegated tasks from the Central Board.

RBI has 31 branches in India. Mostly all are in Capital cities, exceptions are the Nagpur Reserve Bank branch which is actually a Second capital of Maharashtra and the Ahmedabad Reserve Bank branch. Nagpur Reserve Bank was established in 1956, while the Ahmedabad branch was established in 1950.

It has 3 training colleges for its officers, viz. Reserve Bank Staff College Chennai, Reserve Bank of India Academy Mumbai, and Reserve Bank of India College of Agricultural Banking Pune. There are three autonomous institutions run by RBI namely National Institute of Bank Management (NIBM), Indira Gandhi Institute of Development Research (IGIDR), Institute for Development and Research in Banking Technology (IDRBT). There are also four zonal training centres at Mumbai, Chennai, Kolkata, and New Delhi.

The Board of Financial Supervision (BFS), formed in November 1994, serves as a CCBD committee to control the financial institutions. It has four members, appointed for two years, and takes measures to strength the role of statutory auditors in the financial sector, external monitoring, and internal controlling systems. The Tarapore committee was set up by the Reserve Bank of India under the chairmanship of former RBI deputy governor S. S. Tarapore to "lay the road map" to capital account convertibility. The five-member committee recommended a three-year time frame for complete convertibility by 1999–2000.

On 8 December 2017, Surekha Marandi, executive director (ED) of Reserve Bank of India, said RBI will open an office in the north-eastern state of Arunachal Pradesh.

Bharatiya Reserve Bank Note Mudran
BRBNM was established by RBI on 3 February 1995 for the purpose to enable RBI to bridge the gap between maintain, demand and supply of Indian rupee notes in the country.

Deposit Insurance and Credit Guarantee Corporation
Deposit Insurance and Credit Guarantee Corporation was established by RBI for the purpose of providing insurance of deposits and guaranteeing of credit facilities to all Indian banks.

Reserve Bank of India Information Technology
It has been set up by RBI to serve its Information Technology and cybersecurity needs and to improve the cyber resilience of the Indian banking industry.

Indian Financial Technology and Allied Services
It was established by RBI in February 2015, mandated to design, deploy and support IT-related services to all Banks and Financial Institutions in the country and also to the Reserve Bank of India. It manages and operates the Financial messaging platform (SFMS) that comprises Real-Time Gross Settlement and National Electronic Funds Transfer. INFINET is also managed by IFTAS. The IFTAS has taken over the Indian FInancial NETwork (INFINET), Structured Financial Messaging System (SFMS) and the Indian Banking Community Cloud (IBCC) from the IDRBT, effective 1 April 2016.

Reserve Bank of India Innovation Hub
Shaktikanta Das inaugurated the Reserve Bank Innovation Hub (RBIH) on 24 March 2022 in Bengaluru as Section-8 company under Companies Act, 2013, with an initial investment of ₹100 crore to encourage and nurture financial innovation in a sustainable manner through an institutional set-up. RBIH meant to create an ecosystem that focuses on promoting access to financial services and products for the low-income groups in India. It will also help bring world class innovation to financial sector. RBIH is to help in convergence among various stakeholders from BFSI sector, Start-up ecosystem, Regulators and Academia in the financial innovation space. RBIH is working on the blueprint of Digital Rupee.

Functions

The central bank of any country executes many functions such as overseeing monetary policy, issuing currency, managing foreign exchange, working as a bank for government and as a banker of scheduled commercial banks. It also works for overall economic growth of the country. The purposes for which the RBI has been established as India’s central bank has been spelt out in the preamble to the RBI Act   i) “to regulate the issue of banknotes and the keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; and

(ii) that it is essential to have a modern monetary policy framework to meet the challenge of an increasingly complex economy and the primary objective of the monetary policy is to maintain price stability while keeping in mind the objective of growth” ...to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage.

Financial supervision
The primary objective of RBI is to undertake consolidated supervision of the financial sector comprising commercial banks, financial institutions, and non-banking finance companies.

The board is constituted by co-opting four directors from the Central Board as members for a term of two years and is chaired by the governor. The deputy governors of the reserve bank are ex-officio members. One deputy governor, usually the deputy governor in charge of banking regulation and supervision, is nominated as the vice-chairman of the board. The board is required to meet normally once every month. It considers inspection reports and other supervisory issues placed before it by the supervisory departments.

Board for Financial Supervision (BFS) through the Audit Sub-Committee also aims at upgrading the quality of the statutory audit and internal audit functions in banks and financial institutions. The audit sub-committee includes deputy governor as the chairman and two directors of the Central Board as members. The BFS oversees the functioning of the Department of Banking Supervision (DBS), the Department of Non-Banking Supervision (DNBS) and the Financial Institutions Division (FID) and gives directions on the regulatory and supervisory issues.

Regulator and supervisor of the financial system
As a regulator and supervisor of the Indian banking system it ensures financial stability & public confidence in the banking system. It prescribes broad parameters of banking operations within which the country's banking and financial system functions. Its objectives are to maintain public confidence in the system, protect depositors' interest and provide cost-effective banking services to the public. The Banking Ombudsman Scheme has been formulated by the Reserve Bank of India (RBI) for effective addressing of complaints by bank customers. The RBI controls the monetary supply, monitors economic indicators like the gross domestic product and has to decide the design of the rupee banknotes as well as coins. RBI uses methods like On-site inspections, off-site surveillance, scrutiny & periodic meetings to supervise new bank licences, setting capital requirements and regulating interest rates in specific areas. RBI is currently focused on implementing norms.

Regulator and supervisor of the payment and settlement systems
Payment and settlement systems play an important role in improving overall economic efficiency. The Payment and Settlement Systems Act of 2007 (PSS Act) gives the Reserve Bank oversight authority, including regulation and supervision, for the payment and settlement systems in the country. In this role, the RBI focuses on the development and functioning of safe, secure and efficient payment and settlement mechanisms. Two payment systems National Electronic Fund Transfer (NEFT) and Real-Time Gross Settlement (RTGS) allow individuals, companies and firms to transfer funds from one bank to another. These facilities can only be used for transferring money within the country.

From 16 December 2019, one can transfer money online using the National Electronic Funds Transfer (NEFT) route 24x7, i.e., any time of the day and any day of the week. The Reserve Bank of India stated earlier in December 2019 that bank customers will be able to transfer funds through NEFT around the clock on all days including weekends and holidays from 16 December. In RTGS, transactions are processed continuously 24x7.

Banker and debt manager to government
Just as individuals need a bank to carry out their financial transactions effectively and efficiently, governments also need a bank to carry out their financial transactions. The RBI serves this purpose for the Government of India (GoI). The RBI is also a banker to the government and performs merchant banking function for the central and the state governments. As a banker to the Government of India, the RBI maintains its accounts, receive payments into and make payments out of these accounts. The RBI also helps the GoI to raise money from the public via issuing bonds and government-approved securities. In September 2019, a decision at RBI directors meet was taken to change the RBI financial accounting year to March–April to align itself with the central government calendar instead of the current June–July year.

RBI issue taxable bonds for investments. From 1 July 2020, RBI is offering Floating Rate Savings Bonds, 2020 (Taxable) – FRSB 2020 (T). The interest on the bonds is payable semi-annually on 1 January and 1 July every year. The coupon on 1 January 2021 shall be paid at 7.15%. The Interest rate for next half-year will be reset every six months, the first reset being on 1 January 2021. There is no option to pay interest on cumulative basis.

Managing foreign exchange
The central bank manages to reach different goals of the Foreign Exchange Management Act, 1999. Their objective is to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.

With the increasing integration of the Indian economy with the global economy arising from greater trade and capital flows, the foreign exchange market has evolved as a key segment of the Indian financial market and the RBI has an important role to play in regulating and managing this segment. The RBI manages forex and gold reserves of the nation.

On a given day, the foreign exchange rate reflects the demand for and supply of foreign exchange arising from trade and capital transactions. The RBI's Financial Markets Department (FMD) participates in the foreign exchange market by undertaking sales/purchases of foreign currency to ease volatility in periods of excess demand for/supply of foreign currency.

Issue of currency
Other than the Government of India, the Reserve Bank of India is the sole body authorised to issue banknotes in India.

The bank also destroys banknotes when they are not fit for circulation. All the money issued by the central bank is its monetary liability, i.e., the central bank is obliged to back the currency with assets of equal value, to enhance public confidence in paper currency. The objectives are to issue banknotes and give the public adequate supply of the same, to maintain the currency and credit system of the country to utilise it in its best advantage, and to maintain the reserves.

The RBI maintains the economic structure of the country so that it can achieve the objective of price stability as well as economic development because both objectives are diverse in themselves.

For the printing of notes, RBI uses four facilities:
 * The Security Printing and Minting Corporation of India Limited (SPMCIL), a wholly owned company of the Government of India, has printing presses at Nashik, Maharashtra and Dewas, Madhya Pradesh.
 * The Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL), owned by the RBI, has printing facilities in Mysore, Karnataka and Salboni, West Bengal.

For the minting of coins, SPMCIL has four mints at Mumbai, Noida, Kolkata and Hyderabad for coin production.

Whilst coins are minted by, and ₹1 notes are issued by the Government of India (GoI), the RBI works as an agent of GoI for the distribution and handling of coins. RBI also works to prevent counterfeiting of currency by regularly upgrading security features of currency.

The RBI is authorised to issue notes with face values of up to ₹10,000 and coins up to ₹1,000 rupees.

New ₹500 and ₹2,000 notes were issued on 8 November 2016. The old series of ₹1,000 and ₹500 notes were banned on 8 November 2016, and are no longer in use.

Earlier ₹1,000 notes have been discarded by the RBI.

On 19 May 2023 the Reserve Bank of India announced the discontinuation of the Rs 2,000 denomination banknotes from circulation.

This decision follows the cessation of its printing in 2018-19 due to the ample availability of other denominations and the note's limited use in transactions. This move aligns with the RBI's "Clean Note Policy," addressing the notes nearing the end of their lifespan and maintaining currency efficiency.

Bankers' bank

Reserve Bank of India also works as a central bank where commercial banks are account holders and can deposit money. RBI maintains banking accounts of all scheduled banks. Commercial banks create credit. It is the duty of the RBI to control the credit through the CRR, repo rate, and open market operations. As the bankers' bank, the RBI facilitates the clearing of cheques between the commercial banks and helps the inter-bank transfer of funds. It can grant financial accommodation to schedule banks. It acts as the lender of the last resort by providing emergency advances to the banks.

Detection of fake currency
To curb the counterfeit money problem in India, RBI has launched a website to raise awareness among masses about fake banknotes in the market. www.paisaboltahai.rbi.org.in provides information about identifying fake currency.

On 22 January 2014; RBI gave a press release stating that after 31 March 2014, it will completely withdraw from circulation of all banknotes issued prior to 2005. From 1 April 2014, the public will be required to approach banks for exchanging these notes. Banks will provide exchange facility for these notes until further communication. The reserve bank has also clarified that the notes issued before 2005 will continue to be legal tender. This would mean that banks are required to exchange the notes for their customers as well as for non-customers. After 1 July 2014, to exchange more than 15 pieces of '500 and '1000 notes, non-customers must furnish proof of identity and residence as well as show aadhar to the bank branch in order to exchange the notes.

This move from the reserve bank is expected to unearth black money held in cash. As the new currency notes have added increased security features, they would help in curbing the menace of fake currency.

Developmental role
The central bank has to perform a wide range of promotional functions to support national objectives and industries. The RBI faces a lot of inter-sectoral and local inflation-related problems. Some of these problems are results of the dominant part of the public sector.

Key tools in this effort include Priority Sector Lending such as agriculture, micro and small enterprises (MSE), housing and education. RBI work towards strengthening and supporting small local banks and encourage banks to open branches in rural areas to include large section of society in banking net.

Custodian to foreign exchange
The Reserve Bank has custody of the country's reserves of international currency, and this enables the Reserve Bank to deal with crisis connected with adverse balance of payments position.

CSD for G-Sec (Government Securities)
Public Debt Office (PDO) acts as CSD (Central Securities Depository) for G-Sec.

MIFOR (Mumbai Interbank Forward Offer Rate)
With LIBOR cessation in 2021, RBI is set to replace MIFOR with a new benchmark. MIFOR has LIBOR as one of the components and used in interest rate swap (IRS) markets.

2016 demonetisation

On 8 November 2016, the Government of India announced the demonetisation of all ₹ 500 and ₹ 1,000 banknotes of the Mahatma Gandhi Series despite being warned by the Reserve Bank of India (RBI). The government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism.

The Reserve Bank of India laid down a detailed procedure for the exchange of the demonetised banknotes with new ₹ 500 and ₹ 2,000 banknotes of the Mahatma Gandhi New Series and ₹ 100 banknotes of the preceding Mahatma Gandhi Series. The key points were:
 * Citizens had until 30 December 2016 to tender their old banknotes at any office of the RBI or any bank branch and credit the value into their respective bank accounts.
 * Cash withdrawals from bank accounts were restricted to inr 10000 per day and inr 20000 per week per account from 10 to 13 November 2016. This limit was increased to inr 24000 per week from 14 November.
 * For immediate cash needs, the old banknotes could be exchanged for the new ₹500 and ₹2,000 banknotes as well as ₹100 banknotes over the counter of bank branches by filling up a requisition form along with a valid ID proof. It was announced that this facility would be available until 30 December 2016.
 * Initially, the limit was fixed at inr 4000 per person from 8 to 13 November 2016.
 * This limit was increased to inr 4500 per person from 14 to 17 November 2016.
 * The limit was reduced to inr 2000 per person from 18 November 2016.
 * All exchange of banknotes was abruptly stopped from 25 November 2016.
 * Initially, all ATMs were dispensing banknotes of only ₹ 50 and ₹100 denominations and cash withdrawals from ATMs were restricted to inr 2000 per day. From 14 November onwards, ATMs were recalibrated to dispense new ₹500 and ₹2,000 notes and to allow a maximum withdrawal of inr 2500 per day, while other ATMs dispensing banknotes of only ₹50 and ₹100 denominations will allow a maximum withdrawal of inr 2000 per day.

However, exceptions were given to petrol, CNG and gas stations, government hospitals, railway and airline booking counters, state-government recognised dairies and ration stores, and crematoriums to accept the old ₹500 and ₹1,000 banknotes until 11 November 2016, which was later extended to 14 November 2016 and once again to 24 November 2016. International airports were also instructed to facilitate an exchange of notes amounting to a total value of inr 5000 for foreign tourists and outbound passengers.

Under the revised guidelines issued on 17 November 2016, families were allowed to withdraw inr 250000 for wedding expenses from one account provided it was KYC compliant. The rules were also changed for farmers who are permitted to withdraw inr 25000 per week from their accounts against crop loan.

Cash crunch and demerits

The scarcity of cash due to demonetisation led to chaos, and most people holding old banknotes faced difficulties exchanging them due to endless lines outside banks and ATMs across India, which became a daily routine for millions of people waiting to deposit or exchange the ₹500 and ₹1,000 banknotes since 9 November. ATMs were running out of cash after a few hours of being functional, and around half the ATMs in the country were non-functional. Sporadic violence was reported in New Delhi, but there were no reports of any grievous injury, people attacked bank premises and ATMs,  and a ration shop was looted in Madhya Pradesh after the shop owner refused to accept ₹500 banknotes.

Merits

 * It gave the country a ₹5 trillion advantage as there was a huge spike in country's tax base and addition of 100,000 more pan card holders.
 * There was a very big spike in digital transaction even small town and cities people adopted paying digitally for goods and services leading to sustained growth of non-cash payments.

Repo rate
Repo (repurchase) rate also known as the benchmark interest rate is the rate at which the RBI lends money to the commercial banks for a short-term (a maximum of 90 days). When the repo rate increases, borrowing from RBI becomes more expensive. If RBI wants to make it more expensive for the banks to borrow money, it increases the repo rate similarly, if it wants to make it cheaper for banks to borrow money it reduces the repo rate. If the repo rate is increased, banks can't carry out their business at a profit whereas the very opposite happens when the repo rate is cut down. Generally, repo rates are cut down whenever the country needs to progress in banking and economy.

If banks want to borrow money (for short term, usually overnight) from RBI then banks have to charge this interest rate. Banks have to pledge government securities as collateral. This kind of deal happens through a re-purchase agreement. If a bank wants to borrow, it has to provide government securities at least worth ₹ 1 billion (could be more because of margin requirement which is 5%–10% of loan amount) and agree to repurchase them at inr 1070000000.0000001 at the end of borrowing period. So the bank has paid inr 65000000 as interest. This is the reason it is called repo rate.

The government securities which are provided by banks as collateral can not come from SLR quota (otherwise the SLR will go below 19.5% of NDTL and attract penalties).

To curb inflation, the RBI increases repo rate which will make borrowing costs for banks. Banks will pass this increased cost to their customers which make borrowing costly in the whole economy. Fewer people will apply for loans and aggregate demand will be reduced. This will result in inflation coming down. The RBI does the opposite to fight deflation. When the RBI reduces the repo rate, banks are not legally required to reduce their own base rate.

Reverse repo rate (RRR)
As the name suggest, reverse repo rate is just the opposite of repo rate. Reverse repo rate is the short-term borrowing rate in which commercial bank Park their surplus in RBI. The reserve bank uses this tool when it feels there is too much money floating in the banking system. An increase in the reverse repo rate means that the banks will get a higher rate of interest from RBI. As a result, banks prefer to lend their money to RBI which is always safe instead of lending it to others (people, companies, etc.) which is always risky.

Repo rate signifies the rate at which liquidity is injected into the banking system by RBI, whereas reverse repo rate signifies the rate at which the central bank absorbs liquidity from the banks. Currently, reverse repo rate is 3.35%.

Statutory liquidity ratio (SLR)
Apart from the CRR, banks are required to maintain liquid assets in the form of gold, cash and approved securities. Higher liquidity ratio forces commercial banks to maintain a larger proportion of their resources in liquid form and thus reduces their capacity to grant loans and advances, thus it is an anti-inflationary impact. A higher liquidity ratio diverts the bank funds from loans and advances to investment in government and approved securities.

In well-developed economies, central banks use open market operations—buying and selling of eligible securities by the central bank in the money market—to influence the volume of cash reserves with commercial banks and thus influence the volume of loans and advances they can make to the commercial and industrial sectors. In the open money market, government securities are traded at market-related rates of interest. The RBI is resorting increasing to open market operations in recent years. Generally, the RBI uses:
 * 1) Minimum margins for lending against specific securities.
 * 2) A ceiling on the amounts of credit for certain purposes.
 * 3) The discriminatory rate of interest charged on certain types of advances.

Direct credit controls in India are of three types:
 * 1) Part of the interest rate structure, i.e., on small savings and provident funds, are administratively set.
 * 2) Banks are mandatory required to keep 18% of their NDTL (net demand and time liabilities) in the form of liquid assets.
 * 3) Banks are required to lend to the priority sectors to the extent of 40% of their advances.

The share of net demand and time liabilities that banks must maintain in safe and liquid assets, such as government securities, cash, and gold. Here it would be pertinent to mention the gold swap of July 2014. The present SLR is 18.00%.

Bank rate
Bank rate is defined in Section 49 of the RBI Act of 1934 as the 'standard rate at which RBI is prepared to buy or rediscount bills of exchange or other commercial papers eligible for purchase'. When banks want to borrow long term funds from the RBI, it is the interest rate which the RBI charges to them. It is currently set to 4.65%. The bank rate is not used to control money supply, but penal rates continue to be linked to the bank rate. If a bank fails to meet SLR or CRR requirements then the RBI will impose a penalty of 300 basis points above bank rate.

Liquidity adjustment facility (LAF)
Liquidity adjustment facility was introduced in 2000. LAF is a facility provided by the Reserve Bank of India to scheduled commercial banks to avail of liquidity in case of need or to park excess funds with the RBI on an overnight basis against the collateral of government securities.

RBI accepts applications for a minimum amount of inr 50000000 and in multiples of ₹ 50 million thereafter.

Cash reserve ratio (CRR)
CRR refers to the ratio of bank's cash reserve balances with RBI with reference to the bank's net demand and time liabilities to ensure the liquidity and solvency of the scheduled banks. The share of net demand and time liabilities that banks must maintain as cash with the RBI. The RBI has set CRR at 4.5% A 1% change in CRR affects the economy by ₹1.37 trillion. An increase draw this amount from the economy, while a decrease injects this amount into the economy. So if a bank has inr 2000000000 of NDTL then it has to keep inr 80000000 in cash with RBI. RBI pays no interest on CRR.

Let's assume the economy is showing inflationary trends and the RBI wants to control this situation by adjusting SLR and CRR. If the RBI increases SLR to 50% and CRR to 20% then bank will be left only with inr 600000000 for operations. Now it will be very difficult for the bank to maintain profitability with such a small amount of capital. The bank will be left with no choice but to raise its interest rate which will make borrowing by its customers more costly. This will in turn reduce the overall demand and hence prices will eventually come down.

Open market operation (OMO)
Open market operation is the activity of buying and selling of government securities in open market to control the supply of money in banking system. When there is excess supply of money, central bank sells government securities thereby sucking out excess liquidity. Similarly, when liquidity is tight, RBI will buy government securities and thereby inject money supply into the economy.

On 23 March 2020, Reserve Bank of India infused ₹1 trillion (short scale) through term repo auction, a massive OMOs (open market operations) purchase of government securities. The Reserve Bank is monitoring the financial market conditions and liquidity situation in the economy as COVID-19 pandemic in India fears of a recession.

Marginal standing facility (MSF)
This scheme was introduced in May 2011 and all the scheduled commercial bank can participate in this scheme. Banks can borrow up to 2.5% per cent of their respective net demand and time liabilities. The RBI receives application under this facility for a minimum amount of ₹ 10 million and in multiples of ₹ 10 million thereafter.

The important difference from repo rate is that bank can pledge government securities from its SLR quota (up to one per cent). So even if SLR goes below 20.5% by pledging SLR quota securities under MSF, the bank will not have to pay any penalty. The marginal standing facility rate currently stands at 4.25%.

Margin requirements
Loan-to-value (LTV) is the ratio of loan amount to the actual value of asset purchased.

The RBI regulates this ratio so as to control the amount a bank can lend to its customers. For example, an individual wants to buy a car using borrowed money and the car's value is ₹1 million. If the LTV is set to 70% he can borrow a maximum of ₹700,000.

The RBI can decrease or increase to curb inflation or deflation respectively.

Selective credit control
Under this measure, the RBI can specifically instruct banks not to give loans to traders of certain commodities e.g. sugar, edible oil, etc. This prevents the speculation/hoarding of commodities using money from banks.

Moral suasion
Under this measure, the RBI try to persuade banks through meetings, conferences, media specific things under certain economic trends. For example, when the RBI reduces repo rate, it asks banks to reduce their base rate as well. Another example of this measure is to ask banks to reduce their non-performing assets.

Limitations of monetary policy
In developing countries like India, monetary policy fails to show immediate or no results because the following factors:

 * 1) People do not employ alternative investment options. A large section of society still depends on saving accounts, fixed deposits, Public Provident Fund for investment. Commercial banks have large deposits. RBI is not the main or even prominent money supplier for these banks. So whatever monetary action central bank takes has little or late impact on the economy.
 * 2) Many people in rural areas are out of the banking net and whatever the RBI does, has no impact on their financial activities.
 * 3) Monsoon uncertainty adversely affects food production and thereby cause food inflation. Monetary policy has no impact on food inflation.

RTGS and NEFT transactions' charges removal
RBI decided to remove charges on RTGS (Real Time Gross Settlement System) and NEFT (National Electronic Funds Transfer).

Regulation of variable pay of bank management
In November, RBI introduced a set of draft guidelines to regulate the variable pay of CEOs and top management at private banks. The new rules are in line with the Sound Compensation Practices issued by the Financial Stability Board in April 2009. The rules will apply to CEOs, wholetime directors, and material risk takers at private banks, small finance banks and domestic executives of foreign banks. As per the new rules at least 50% of the pay should be based on individual, unit, business and firm wide performance evaluation which will be capped at 300% of the fixed pay. In case of variable pay above 200% then at least 50% of this amount should be via non-cash instruments. Share linked instruments are included as part of variable pay. Guaranteed bonus should not be part of the compensation package except in case of joining bonus. The RBI also has put clauses in place to clawback/malus in case of deteriorating performance. The bank shall identify a representative set of conditions when the recovery clause for clawback /malus can be invoked.

Publications
A report titled "Trend and Progress of Banking in India" is published annually, as required by the Banking Regulation Act, 1949. The report sums up trends and developments throughout the financial sector. Starting in April 2014, the Reserve Bank of India publishes bi-monthly policy updates.

KV Kamath Committee
In August 2020, RBI set up a five membered Committee under the chairmanship of KV Kamath, the former CEO of the ICICI bank in order to make recommendations on the norm for resolution of COVID-19 related stressed loans. In order to restructure the loans up to ₹150 billion, the expert Committee was tasked with coming up with a sector specific plan for successful resolution of the stressed loans. The parameters were to include aspects related to leverage, liquidity and debt serviceability.

Attempt to caution customers against virtual currencies
In April 2018, RBI had banned banks from supporting crypto transactions after cases of fraud through virtual currencies were reported. However, the Supreme Court had struck down the ban in March 2020. Among the reasons cited was that cryptocurrencies were not illegal though unregulated in India.

Training academies

 * Reserve Bank Staff College Chennai
 * Reserve Bank of India Academy Mumbai
 * Reserve Bank of India College of Agricultural Banking Pune

The 3 training colleges of the Reserve Bank of India, train the officers of the Reserve Bank of India, and the banking industry.

Research Units

 * National Institute of Bank Management
 * Institute for Development and Research in Banking Technology
 * Indira Gandhi Institute of Development Research

All India Financial Institutions separated from Reserve Bank of India
Regulatory Bodies:

 * Export - Import Bank of India
 * National Bank for Agriculture and Rural Development
 * Small Industries Development Bank of India
 * National Housing Bank

Project Nexus
The Bank for International Settlements signed an agreement with Central Bank of Malaysia, Bank of Thailand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, and the Reserve Bank of India on 30 June 2024 as founding member of Project Nexus, a multilateral international initiative to enable retail cross-border payments. Bank Indonesia involved as a special observer. The platform, which is expected to go live by 2026, will interlink domestic fast payment systems of the member countries.

title: Reserve Bank of India


text:
Bimal Jalan

Bimal Jalan (born 17 August 1941) is a former Governor of Reserve Bank of India and was a nominated member of the Upper House of India's Parliament, the Rajya Sabha during 2003–2009.

Education and career
Jalan graduated from Presidency College, Calcutta, and later attended Cambridge and Oxford but no further detail as to his course of study is known publicly.

Jalan held several administrative and advisory positions in the Government of India, namely, Chief Economic Adviser in the 1980s, Banking Secretary between 1985 and 1989 and Finance Secretary, Ministry of Finance between January 1991 and September 1992. In 1992-93 and then from 1998–2008, Jalan was the President of the Governing Body of the National Council of Applied Economic Research, Planning Commission in New Delhi.

He was the Governor of Reserve Bank of India for two terms. The Government of India reappointed Jalan as Governor of the Reserve Bank of India, first for a period of five years commencing 22 November 1997 to 21 November 2002 and again for a further period of two years commencing from 22 November 2002 and ending 21 November 2004. He was succeeded by Y. Venugopal Reddy on 6 September 2003. During his tenure the Indian Rupee note of 1000 denomination was introduced.

Selected works

 * India's Economic Crisis: The Way Ahead (Oxford University Press, 1991)
 * The Indian Economy: Problems and Prospects (editor) (Penguin, 1993).
 * India's Economic Policy: Preparing for the Twenty-first Century (Viking, 1996) examines some of the critical policy choices for India at the present juncture.
 * The Future of India Politics, Economics and Governance (Penguin, 2005).
 * India's Politics: A view from the backbench (Penguin-Viking, 2007).

title: Bimal Jalan