Question

collect information about RBI and functions

Answer 1

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Answer 2

Hey !!

           RBI (RESERVE BANK OF INDIA)

• RBI is the Central Bank of the country. It was set - up on the basis of '' Hilton Young Commission's recommendation in April, 1935, with the enactment of RBI Act, 1934. It's first Governor was Sir Osborne Smith.
• RBI was nationalised in 1934 and its first Indian Governor was CD Deshmukh.
• The headquarter of the RBI is in Mumbai.
• There are 14 Directors in Central Board of Directors besides the Governor, four Deputy Governors and one Government Official.

                   FUNCTIONS OF RBI

The main functions of the RBI includes

It issues currency except coins which are minted by the Union Government. It is banker and debt manager to government and banker of banks. It is regulator of banking system and manager of foreign exchange. It maintains financial stability and it is regulator and supervisor of the payment and settlement system.

     Since 1952, Monetary Policy of the RBI emphasise on twin goals.

These are as follows :-

1. Economic growth
2. Inflation control  

Instrument of credit control can be divided into two namely;

Qualitative / selective credit control and quantitative control .

RBI has signed agreement with government to control inflation.

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