Who supervises the functioning of formal source of loan explain?
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The Reserve Bank of India supervises the functioning of formal sources of loans
The RBI monitors the banks in actually maintaining cash balance
The RBI sees that the banks give loans not just to profit making business and traders but also to small cultivators, small scale industries to small borrowers etc
Periodically banks have to submit information to the RBI on how much they are lending to whom, at what interest rate etc.
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