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

 

Slide7.JPG

Slide8.JPG

Davneet Singh's photo - Co-founder, Teachoo

Made by

Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.