RBI - Reserve bank of India
RBI Act 1934, Founded on 1 April 1935.
The Reserve Bank of India is India's central bank, which controls the issue and supply of Indian rupees. The RBI is the regulator of the entire banking industry in India. RBI plays an important part in the development strategy of the government of India
Functions of RBI
- Printing of currency notes
- Banker of the Government
- Banker to the bank
- Custodian of cash and gold reserve
- Control of credit
- Lender of last resort
Read More : - Indian GDP in 2021-22
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Economics