Question

discuss in detail the reserve bank of India supervises the functioning of formal sources of loans
best answer will be brainliest

Answer 1

Hey dear here is your answer!!!!!

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Reserve Bank of India impliments some rules which banks have to follow to ensure people are exploited:-

1. Banks can't charge more interest rate than fixed by RBI.

2. Banks have to maintain a minimum amount of money.

3. They can't refuse to accept money in any form.

4. They must keep 15% of the total money in case the owner withdraws it.

❣️⭐ Hope it helps u dear...⭐⭐❣️❣️