The reserve bank of india (rbi) acts as a bankers' bank. What does it mean?
Answers
Answered by
1
The RBI has been vested with extensive power to control and supervise commercial banking system under rbi of India Act, 1943 and the banking regulation act 1949.
The RBI provide financial assistance to schedule banks and state cooperative banks in the form of dismounting of eligible bills and loans and advances against approval securities.
Answered by
26
Answer:
The Reserve Bank of India acts as a lender of last resort and a bankers' bank. It provides credit to banks in times of need and other banks retain their deposits with the RBI.
Similar questions