Each country has a central banking institution responsible for the monitory policy. In India, the Reserve Bank of India (RBI) functions as the central bank.
Major functions of Reserve Bank of India include
• Issuance of bank notes
• Banker to government
• Controller of Foreign Currency Reserves
• Custodian of cash reserves of commercial banks
• Lender of last resort
• Maintaining inflation target
Reserve Bank of India commenced its operations on 1 April 1935 with its Head Office in Calcutta (presently Kolkata). It was later on Shifted to Bombay (presently Mumbai). RBI is also active in promoting financial.
Please click the button to visit the official website of RBI.
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