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    Sarthak Sahewala 1820329: The Roles and Responsibilities of RBI Are

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    Tarunvir Kukreja
    The Reserve Bank of India (RBI) is India's central bank that regulates the banking system and monetary policy. It controls the supply of currency, regulates commercial banks and non-banking financial institutions, and aims to maintain price stability and adequate credit flow. RBI was established in 1935 under the Reserve Bank of India Act and serves as the leader and supervisor of India's financial system, regulating areas like money supply, foreign exchange management, payments systems, and acting as a banker to both the government and other banks.

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    Sarthak Sahewala 1820329: The Roles and Responsibilities of RBI Are

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    Tarunvir Kukreja
    28 views1 page
    The Reserve Bank of India (RBI) is India's central bank that regulates the banking system and monetary policy. It controls the supply of currency, regulates commercial banks and non-banking financial institutions, and aims to maintain price stability and adequate credit flow. RBI was established in 1935 under the Reserve Bank of India Act and serves as the leader and supervisor of India's financial system, regulating areas like money supply, foreign exchange management, payments systems, and acting as a banker to both the government and other banks.

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    The Reserve Bank of India (RBI) is India's central bank that regulates the banking system and monetary policy. It controls the supply of currency, regulates commercial banks and non-banking financial institutions, and aims to maintain price stability and adequate credit flow. RBI was established in 1935 under the Reserve Bank of India Act and serves as the leader and supervisor of India's financial system, regulating areas like money supply, foreign exchange management, payments systems, and acting as a banker to both the government and other banks.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    28 views1 page

    Sarthak Sahewala 1820329: The Roles and Responsibilities of RBI Are

    Uploaded by

    Tarunvir Kukreja
    The Reserve Bank of India (RBI) is India's central bank that regulates the banking system and monetary policy. It controls the supply of currency, regulates commercial banks and non-banking financial institutions, and aims to maintain price stability and adequate credit flow. RBI was established in 1935 under the Reserve Bank of India Act and serves as the leader and supervisor of India's financial system, regulating areas like money supply, foreign exchange management, payments systems, and acting as a banker to both the government and other banks.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    of 1

    The Reserve Bank of India (RBI) is India's central bank, which controls the issue

    and supply of the Indian Rupee. RBI is the regulator of the entire Banking In India. RBI plays
    an important part in the Development Strategy of the Government of India.

    RBI regulates commercial banks and non-banking finance companies working in India. It
    serves as the leader of the banking system and the money market. It regulates money supply
    and credit in the country. The RBI carries out India's monetary policy and exercises
    supervision and control over banks and non-banking finance companies in India. RBI was set
    up in 1935 under the Reserve Bank of India Act,1934

    The Roles And Responsibilities of RBI are:-

     Monetary Authority: Formulates, implements and monitors the monetary policy


    for A)  maintaining price stability, keeping inflation in check ; B) ensuring adequate
    flow of credit to productive sectors.
     Regulator and supervisor of the financial system: lays out parameters of
    banking operations within which the country’s banking and financial system functions
    for- A) maintaining public confidence in the system, B) protecting depositors’ interest
    C) providing cost-effective banking services to the general public.
     Regulator and supervisor of the payment systems: A) Authorises setting
    up of payment systems; B) Lays down standards for working of the payment system;
    C)lays down policies for encouraging the movement from paper-based payment
    systems to electronic modes of payments. D) Setting up of the regulatory framework
    of newer payment methods. E) Enhancement of customer convenience in payment
    systems. F) Improving security and efficiency in modes of payment.
     Manager of Foreign Exchange: RBI manages forex under the FEMA- Foreign
    Exchange Management Act, 1999.  in order to A) facilitate external trade and
    payment B) promote the development of foreign exchange market in India.
     Issuer of currency: RBI issues and exchanges currency as well as destroys
    currency & coins not fit for circulation to ensure that the public has an adequate
    quantity of supplies of currency notes and in good quality.
     Developmental role : RBI performs a wide range of promotional functions to
    support national objectives. Under this it setup institutions like NABARD, IDBI,
    SIDBI, NHB, etc.
     Banker to the Government: performs merchant banking function for the central
    and the state governments; also acts as their banker.
     Banker to banks: An important role and function of RBI is to maintain the
    banking accounts of all scheduled banks and acts as the banker of last resort.

    Sarthak Sahewala

    1820329

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