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Old June 19th, 2012, 12:25 PM
manju singh
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Default RBI functions in details

What are the functions of Reserve Bank of India (RBI), can you suggest me that, from which sources can I get RBI (Reserve Bank of India) functions?
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Old June 19th, 2012, 05:02 PM
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Default Re: RBI functions in details

Following is the functions of Reserve Bank Of India:

Bank of Issue: Bank has the sole right to issue bank notes of all denominations.

Banker to Government: Reserve Bank of India have the right to transact Government business, via. to keep the cash balances as deposits free of interest, to receive and to make payments on behalf of the Government and to carry out their exchange remittances and other banking operations.

Bankers' Bank and Lender of the Last Resort: Reserve Bank of India acts as the bankers' bank.

Controller of Credit: Reserve Bank of India is the controller of credit i.e. it has the power to influence the volume of credit created by banks in India.

Custodian of Foreign Reserves: Reserve Bank of India has the responsibility to maintain the official rate of exchange.

Supervisory functions: Reserve bank of India has certain non-monetary functions of the nature of supervision of banks and promotion of sound banking in India.

Classification of RBIs functions: RBI are related to control and regulation of money and credit, i.e., issue of currency, control of bank credit, control of foreign exchange operations etc.
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