As the custodian of the country’s economic and financial stability, it plays a crucial role in India’s economic development and smooth functioning of the entire banking sector. This article aims to study in detail the Reserve Bank of India (RBI), its origin, evolution, structure, functions, and more. To serve as a banker to the government and other banks. Functions of the Reserve Bank of India The functions of the RBI can be broadly classified into five major categories: 1. Issuer of Currency The RBI has the sole authority to issue currency notes in India (except one-rupee notes and coins, which are issued by the Ministry of Finance). Reserve Bank of IndiaRegulator and Supervisor of the Financial System: Prescribes broad parameters of banking operations within which the country's banking and financial system functions such as issuing licenses, branch expansion, liquidity of assets, amalgamation of banks etc. Objective: maintain public confidence in the system, protect depositors' interest and provide cost-effective banking services such as commercial banking, co-operative banking, to the public. Manager of Foreign ... The Reserve Bank of India (RBI) is India’s central bank. It controls the monetary policy concerning the national currency, the Indian rupee. The basic functions of RBI are the issuance of currency, sustaining monetary stability in India, operating the currency, and maintaining the country’s credit system. In this article, you can read all about the Reserve Bank of India, its origins, the role of RBI, its functions, mandate and all the latest updates related to the RBI, relevant for the ...
