“RBI plays a crucial role in controlling formal sector loan”. Explain
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The Reserve Bank of India (Reserve Bank of India) supervises the functioning of formal sources of credit/loan in India. ... (ii) Reserve Bank of India sees that the banks give loans not just to profit making business and traders but also to small cultivators, small-scale industries to small borrowers, etc.
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1.it fixes the rate of interest for every bank.
2.all the banks has to report to the rbi
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