Question

Discuss in detail about various powers of the RBI and its importance in banking sector in India?why it is called banker's bank?​

Answer 1

Function of Reserve Bank of India

First and foremost, the RBI formulates, implements, and monitors India's monetary policy. The bank's management objective is to maintain price stability and ensure that credit is flowing to productive economic sectors. The RBI also manages all foreign exchange under the Foreign Exchange Management Act of 

Answer 2

Answer:

First and foremost, the RBI formulates, implements, and monitors India's monetary policy. The bank's management objective is to maintain price stability and ensure that credit is flowing to productive economic sectors. The RBI also manages all foreign exchange under the Foreign Exchange Management Act of

Explanation: