The Central Banking functions in India are performed by the ________.
The Central Banking functions in India are performed by the ________.
The correct option is C Reserve Bank of India
Reserve Bank of India
Reserve Bank of India (RBI) is India's central bank. Central bank of a country executes multiple functions such as overseeing monetary policy, issuing currency, managing foreign exchange, working as a bank of government and as the banker of scheduled commercial banks, etc. It also works for the overall economic growth of the country. The Reserve Bank of India was established in 1935 with the provision of Reserve Bank of India Act, 1934. Though privately owned initially, in 1949 it was nationalized and since then fully owned by Government of India (GoI). The preamble of the Reserve Bank of India describes its main functions as:
"To regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage"
Reserve Bank of India
Reserve Bank of India (RBI) is India's central bank. Central bank of a country executes multiple functions such as overseeing monetary policy, issuing currency, managing foreign exchange, working as a bank of government and as the banker of scheduled commercial banks, etc. It also works for the overall economic growth of the country. The Reserve Bank of India was established in 1935 with the provision of Reserve Bank of India Act, 1934. Though privately owned initially, in 1949 it was nationalized and since then fully owned by Government of India (GoI). The preamble of the Reserve Bank of India describes its main functions as:
"To regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage"
