Indian Reserve Bank
In India Reserve Bank is the Centre Bank, It is owned by the Government of India.
The Functions of the Reserve Bank are:
1.An issue of Currency:
A. The Reserve Bank has the right to issue currency notes.
B. Only one rupee coins/notes and less than one rupee will be issued by the Ministry of Finance.
2.Banker to the Government:
A. It acts as a banker to the government and also as an agent and adviser to the government.
B. It makes payments,
3.Banker’s Bank
A. The Reserve Bank has been given the power to control all commercial banks.It lays down the rules and Regulations for those banks.
B. It Inspects and suggests ways and means and prescribes rules and regulations.
4.Custodian of Foreign Exchange Reserves
A. The Reserve Bank of India acts as a Custodian of our Foreign exchange reserves
B. It Maintains the external value of the rupee.
5.Controller of Credit
A. It creates Special agencies for certain promotional functions.
B. It Plans for Expansion of commercial branch facilities in rural and urban areas, creating special agencies-National Bank For Agriculture & Rural Development (NABARD), Industrial Development Bank of India(IDBI), and so on to meet the requirement of special groups.
Also, Read Commercial Banks and its Functions
