Commercial banks in india is governed by
Answers
Answer :-
Commercial banks in India are governed by the supreme authority of monetary, Reserve Bank of India (RBI).
Explanation :-
RBI is national authority for monetary affairs in India. RBI control the flow of money in an economy by making a supervision on every commercial bank. RBI accepts money from commercial banks only as it is a bank of the banks. It provides loan to the commercial banks when it is needed. In case of inflation, RBI takes several steps to prevent flow of money in the economy. On the other hand, at the time of deflation it promotes the flow of money in the economy. So all the financial process runs under the supervision of RBI in India.
Commercial banks in india Are governed by the supreme authority of Monetary, Its called RBI.