what is RBI?Describe its importance
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RBI stands for Reserve Bank of India.The Reserve Bank of India (RBI) is India's central bank, which controls the supply of the Indian rupee.RBI is the control of entire Banking in India. RBI plays an essential part in the Development Strategy of the administration of India.
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Reserve Bank of India (RBI) is the Central Bank of India. RBI was established on 1 April 1935 by the RBI Act 1934. Key functions of RBI are, banker's bank, the custodian of foreign reserve, controller of credit and to manage printing and supply of currency notes in the country.
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