Explain the functions of RBI.
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Explain the functions of RBI.
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Answer:
Major functions of the RBI are as follows:
Issue of Bank Notes: ...
Banker to Government: ...
Custodian of Cash Reserves of Commercial Banks: ...
Custodian of Country's Foreign Currency Reserves: ...
Lender of Last Resort: ...
Central Clearance and Accounts Settlement: ...
Controller of Credit:
Answer:
Hlo mate
RBI means Reserve Bank of India (RBI) is the central bank of the country. RBI is a statutory body. It is responsible for printing of currency notes and managing the supply of money in the Indian economy. Initially the ownership of almost all the share capital was in the hands of non-government share holders.