Explain the “banker’s bank ’ and “Government’s Bank” function of a central bank.
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Answer:The central bank is the bank of issue. It has the monopoly of note issue. Notes issued by it circulate as legal tender money. It has its issue department which issues notes and coins to commercial banks.
The Central Bank acts as a Custodian of Cash Reserves of commercial banks in the country Every commercial bank keeps certain percentage of its cash with the Central Bank of the country. .
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