The Goa office of the Reserve Bank of India (RBI) celebrated its annual day recently on November 24. Celebrations were muted due to observing social distancing for pandemic prevention. NJ Nampoothiri, general manager (officer-in-charge), exhorted the employees to contribute their best and help rebuild the state and national economy.
RBI established its presence in Goa on November 24, 1983. The apex bank started with a single department, exchange control, (now the foreign exchange department) with three employees at Sandeep Apartments, near Hotel Manoshanti, Dr. Dada Vaidya Road. The office was inaugurated by the then RBI Governor, Dr Manmohan Singh who later became the Finance Minister as also the Prime Minister.
The RBI office in the state was primarily opened for the benefit of the exporters, shipping companies and travel agents for their foreign exchange requirements. As time progressed more departments and manpower were added. The office also shifted to Sesa Ghor, Patto and then finally to its present location in Gera Imperium II.
A new RBI building is coming up with the state allotting prime plot in Patto Plaza (Plot No.1, next to LIC) for the building. Registration for the new building was completed in July 2020. RBI- Goa presently has five departments, viz. the department of supervision, financial inclusion and development, government banking division, consumer education and protection cell and the first department it started with, i.e. the forex department. The present staff strength of RBI in the state is thirty-seven employees.
