shareholders. But, it was nationalized on January 1, 19.
been acting as the central bank of the country,
5. FUCTIONS OF CENTRAL BANK (OR FUNCTIONS OF RBI)
There is difference in the policies and organisation of central bank in different countries. But
despite these differences, Central banks all over the world, including RBI in India, perform
almost similar functions which are as under:
1. To Issue Notes : The most important task of any central bank is to issue currency notes
Infact, central bank has a monopoly over note-issue in the economy. Central bank has to keep
assets of some specified type in some fixed proportion to the value of currency notes issued by it.
For example : In India, RBI has to keep in stock assets and gold worth at least 200 crores
under the minimum reserve system.
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