Who is our finance minister and the governor of RBI?

Shri Shaktikanta Das
Shri Shaktikanta Das, IAS Retd., former Secretary, Department of Revenue and Department of Economic Affairs, Ministry of Finance, Government of India assumed charge as the 25th Governor of the Reserve Bank of India effective December 12, 2018.

Does RBI comes under Ministry of Finance?

The Reserve Bank of India (RBI) is India’s central bank and regulatory body under the jurisdiction of Ministry of Finance, Government of India. It is responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system.

What is the power of finance minister?

As part of this, a key duty of the Finance Minister is to present the annual Union Budget in Parliament, which details the government’s plan for taxation and spending in the coming financial year. Through the Budget, the finance minister also outlines the allocations to different ministries and departments.

How RBI is different from government?

The RBI keeps a large reserve of cash in its money jar, which the government is looking to dip its fingers into, financial analysts and economists say. But the RBI is called the “lender of last resort” for a reason — it may need its reserves to step in if a crisis threatens to bring down the entire financial system.

What is the difference between finance minister and treasurer?

The minister administers the portfolio through the Department of Finance. Unlike the Treasurer, who by convention has been a member of the House of Representatives, the Finance Minister may come from either House of Parliament.

What is the difference between finance minister and commerce minister?

Commercial dealings consist of import, export, defining trade policies etc. Whereas Ministry of Finance concerns itself with taxation, financial legislation, financial institutions, capital markets, centre and state finances, and the Union Budget.