Functions of Reserve Bank of India?

The Reserve Bank of India is the central bank of India and was established in 1935. Its functions are divided into various categories such as Monetary Management, Banker to the Government, Regulator and Supervisor of the Financial System, Manager of Foreign Exchange and Issuer of Currency. The Reserve Bank of India is responsible for formulating and implementing monetary policies to maintain price stability and controlling inflation. It also acts as a banker and custodian for the central and state governments, and supervises the functioning of commercial banks and other financial institutions. Additionally, it regulates and controls foreign exchange transactions and oversees the circulation of currency. Therefore, the Reserve Bank of India plays a crucial role in maintaining the financial stability of the country and promoting economic growth.

This mind map was published on 22 June 2023 and has been viewed 66 times.