Question

What is rbi and what is the uses of RBI

Answer 1

Answer:

rbi is reserve bank of india

Explanation:

its uses are monitoring and controlling and regulating all banks of india and produce currency

Answer 2

Answer:

RBI is known as Reserve Bank of India having it's headquarters in Mumbai.

It is an organisation having control and decision making power over many financial aspects of the country. It also represents India in the global level in terms of Banking and Finance along with it's contribution to IMF and World Bank.

Some Functionalities of RBI are:

1. It regulates the flow of money across different sectors of the country.

2. It is the central body which prints currency notes of various denominations.

3. It helps in paying loans of our country in the international scale.

4. It regulates and controls the working of various financial institutions with help of pre-defined guidelines.

5. The major functionality of RBI is to control Inflation and aid in Growth of the country in terms of GDP (Gross Domestic Product.

Extra Information:

1. RBI was formed on April 1, 1935 with the name "Central Bank" based on the RBI Act in 1934.

2. It was a private organisation until 1949, after which Govt. of India took control due to nationalisation.

3. It was initially headquartered in Calcutta which later moved on to Bombay (Mumbai) in 1939.