what are the functions of Reserve Bank of India
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Answer:
the most important function is make money
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HEY MATE HERE IS YOUR ANSWER
Explanation:
RBI is the head of all the banks and supervisors all other banks in India
- The sole has right to issue currency notes except one rupee notes which are issued by the Ministry of Finance.
(i) it brings uniformity in notes issue;
(ii) it makes possible effective state supervision;
(iii) it is easier to control and regulate credit in accordance with the requirements in the economy; and
(iv) it keeps faith of the public in the paper currency.
- The Reserve Bank manages the banking needs of the government.
- The commercial banks hold deposits in the Reserve Bank and the latter has the custody of the cash reserves of the commercial banks.
- The Reserve Bank has the custody of the country’s reserves of international currency, and this enables the Reserve Bank to deal with crisis connected with adverse balance of payments position.
- Credit is controlled by the Reserve Bank in accordance with the economic priorities of the government.
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