Explain the function of reserve bank of india as banker to bank
Answers
Answered by
1
It also enables banks to maintain their accounts with RBI for statutory reserve requirements and maintenance of transaction balances. In order to facilitate a smooth inter-bank transfer of funds, or to make payments and to receive funds on their behalf, banksneed a common banker.
Answered by
15
Answer:
Reserve Bank of India (RBI) is the Central Bank of India. RBI was established on 1 April 1935 by the RBI Act 1934. Key functions of RBI are, banker's bank, the custodian of foreign reserve, controller of credit and to manage printing and supply of currency notes in the country.
Similar questions