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Functions : To advise the Central Board on local matters and to represent territorial and economic interests of local cooperative and indigenous banks; to perform such other functions as delegated by Central Board from time to time. To serve as a banker to the government and other banks. Functions of the Reserve Bank of India The functions of the RBI can be broadly classified into five major categories: 1. Issuer of Currency The RBI has the sole authority to issue currency notes in India (except one-rupee notes and coins, which are issued by the Ministry of Finance). RBI (Reserve Bank of India) is the central bank of India and a statutory body responsible for multiple tasks like printing the currency notes, controlling monetary policy and acting as a custodian to other primary banks of the nation. Reserve Bank of India (RBI) is India’s Central bank. It plays a multi-facet role by executing multiple functions such as overseeing monetary policy, issuing currency, managing foreign exchange, working as a bank of government. RBI played a vital role in ensuring economic and financial stability. RBI’s Previous Functions Before inflation targeting was formally introduced in … Continue reading "Function of Reserve Bank of India (RBI)"
