Question

Explain the shortly establishment of indian banking system..and write some main functions shortly?

Answer 1

hi Aastha sis....I have smthg for u...the reserve bank of India was established on April 1st of 1935 in accordance with the provisions of the RBI act 1934.....the central office of the reserve bank was initially established in Calcutta but welas permanently now moved to Mumbai.....in the year 1937..the central office is where the governor sites and where policies are formulated..
the main functions of banks are.


-- monetary authority..

-- regulatory and supervise of finance system

--manager of foreign exchange..

-- issue of currency..

-- plays development role..and also perform many other functions....hope it helps..

I tried my level best ..

please read it carefully..

thanks.
please Mark brainliest

Answer 2

Hello friend
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Indian banking was established on 1 April 1935, Kolkata

Functions of RBI are :-

1.welfare of the people

2.To maintain the financial stability of the country.

3.To execute the financial transactions safely and effectively.

4.To develop the financial infrastructure of the country.

5.To allocate the funds effectively without any partiality.

6.To regulate the overall credit volume for price stability.
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Hope it will help u