explain the role of RBI in Indian economy
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Answer:
Hey!
Reserve Bank of India (RBI) is the central bank of the country. RBI is a statutory body. It is responsible for printing of currency notes and managing the supply of money in the Indian economy.
Initially the ownership of almost all the share capital was in the hands of non-government share holders. So in order to prevent the centralisation of the shares in few hands, the RBI was nationalised on January 1, 1949.
Answer:
Role of RBI
Reserve Bank of India (RBI) is India's Central bank. It plays multi-facet role by executing multiple functions such as overseeing monetary policy, issuing currency, managing foreign exchange, working as a bank of government and as banker of scheduled commercial banks, among others.
RBI is the Regulator of Financial System
In every country there is one organization which works as the central bank. The function of the central bank of a country is to control and monitor the banking and financial system of the country. In India, the Reserve Bank of India (RBI) is the Central Bank.