Economy, asked by niyajuddin66831, 1 year ago

Explain the details the evolution of Central Banking in India.

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Answered by Anonymous

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Role of RBI is evolved over the period of time. In the initial stages it performed two basic functions. First, it acted as a central point of reserves for Indian banks and timely lend to the banks as they required funds for the operations in the emergency case. It was set up under the Reserve Bank of India Act, 1934.

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