Question

what do you understand by credit explain in your own word ? explain the role of reserve Bank of India?​

Answer 1

☃️ what do you understand by credit explain in your own word ?

Ans A borrower receives a sum of money or something of value and repays the lender at a later date, generally with interest.

☃️explain the role of reserve Bank of India?

Ans First and foremost, the RBI formulates, implements, and monitors India's monetary policy. The bank's management objective is to maintain price stability and ensure that credit is flowing to productive economic sectors. The RBI also manages all foreign exchange under the Foreign Exchange Management Act of 1999.

Answer 2

CREDIT:

This term has many meanings in the financial world, but credit is generally defined as a contract agreement in which a borrower receives a sum of money or something of value and repays the lender at a later date, generally with interest.

The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as: Regulating the issue of Banknotes. Securing monetary stability in India. Modernising the monetary policy framework to meet economic challenges.