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BANKING AWARENESS
INTRODUCTION:
The Central Office of the Reserve Bank was initially established in Calcutta but
There are seven major functions of the Reserve Bank of India. They are,
The Reserve Bank of India has the right to issue currency notes except
2. Banker to Government:
It represents the Government of India as the member of the IMF and the
World Bank.
The Commercial banks hold deposits in the Reserve Bank and the latter
international currency, and this enables the Reserve Bank to deal with
emergency to tide over financial difficulties, and the Reserve bank comes
It is easy to deal with each other and settle the claim of each on the other
Reserve Bank.
7. Controller of Credit:
The supply of money has important implications for economic stability and
Bank.
The function of the central bank of a country is to control and monitor the
In, India the Reserve Bank of India (RBI) is the Central Bank.
regulation include:
may be:
Foreign banks
Co-operative banks, or
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