Reserve Bank of India

RBI

Objectives: The Reserve Bank of India (RBI) is the apex financial institution of the country’s financial system entrusted with the task of control, supervision, promotion, development and planning.

Functions: As per the RBI Act 1934 it performs 3 types of functions as that of any other central bank. They are,Banking Function, Supervisory Functions andPromotional Functions

Banking Functions:

  • Bank of Issue
  • Banker to Government
  • Bankers’ Bank and Lender of the Last Resort
  • Controller of Credit
  • Custodian of Foreign Reserve

Explanations: The main functions of the RBI are to regulate the money supply in the country.

Moreover, it has been directed to take care of agriculture, industry, ....

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Indian Economy & Socio-economic Development