It is the central bank of India and was established in 1935. Adding to it the teacher told that its name is Reserve Bank of India. Children, tell me what this bank does?
Answers
Answer:
The central bank of any country executes many functions such as overseeing monetary policy, issuing currency, managing foreign exchange, working as a bank for government and as a banker of scheduled commercial banks. It also works for overall economic growth of the country. The preamble of the Reserve Bank of India describes its main functions as:
..to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage
Explanation:
1 Financial supervision
2. Regulator and supervisor of the financial system
3. Managing foreign exchange
4. Detection of fake currency
5. Regulator of the Banking System
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Answer:
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