Check sibling questions

State the role of Reserve Bank of India. 

Answer

The role of Reserve bank of India can be described by the following points:

  • It holds the top spot in India’s banking hierarchy .
  • It is in charge of issuing currency notes on behalf of the government.
  • It acts as the banker and financial advisor to government
  • It supervises the functioning of formal sources of loans.
  • It promotes financial inclusion by ensuring that banks give loans not just to profit-making businesses and traders but also to small cultivators, small scale industries, and small borrowers.
  • It manages the foreign exchange .
  • It is responsible for formulation of the country’s monetary policy .
  • It ensures that banks maintain a certain cash reserves at all times.

ROLE OF RESERVE BANK OF INDIA.jpg

 

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