How is rbi working as bankers bank?
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Answer:
As a banker of banks, RBI: Enables smooth and swift clearing and settlements of inter-bank transactions. Provides efficient means of funds transfer for all banks. Enables banks to maintain their accounts with RBI for statutory reserve requirements and maintenance of transaction balances.
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RBI is known to be the banker of all banks since it helps in the efficient financial transaction process from end to end and clears the settlement of the people from time to time.
Explanation:
- The RBI forms the basis of all banks and the major scope of the RBI bank is to clear the financial processes that has been carried out in all banks.
- The major focus of the RBI banks is to initiate the set of financial processes that take part from one end to the other.
- The financial back ups of every bank will be monitored and their data base is maintained by the RBI banks.
To know more:
1) Explain the functions of reserve bank of India?
https://brainly.in/question/4781037.
2) What is RBI? (Reserve Bank of India )?
https://brainly.in/question/4833444
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