#1
27th February 2016, 11:15 AM
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Uses of Reserve Bank of India
Hello, I want to know the details of the main functions of the Reserve Bank of India. Will you please provide me?
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#2
27th February 2016, 11:15 AM
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Re: Uses of Reserve Bank of India
Hello, here I am providing you the details of the main functions of the Reserve Bank of India as under: About the RBI: RBI is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. Main Functions Monetary Authority Issuer of Currency Banker and Debt Manager to Government Banker to Banks Regulator of the Banking System Manager of Foreign Exchange Regulator and Supervisor of the Payment and Settlement Systems Developmental Role Governor Raghuram Rajan Currency Indian Rupee (₹) Reserves US$351.92 billion Bank rate 7.75% Interest on reserves 4.00% (market determined) Board directors: Dr. Raghuram Rajan Governor Shri Harun R. Khan Deputy Governor Dr. Urjit R. Patel Deputy Governor Shri R. Gandhi Deputy Governor Shri S. S. Mundra Deputy Governor Dr. Nachiket M. Mor Shri Y.C. Deveshwar Prof Damodar Acharya Shri Shaktikanta Das Ms. Anjuly Chib Duggal |
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