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Roles and Functions of RBI



 The Reserve Bank of India(RBI) was established on April 1, 1935

 The Central Office of the Reserve Bank was initially established in Calcutta but

permanently moved to Mumbai in 1937.

 The board is appointed by the Government of India in keeping with the

Reserve Bank of India Act

 There are both Official and Non – Official directors


There are seven major functions of the Reserve Bank of India. They are,

1. Issue of Bank Notes:

 The Reserve Bank of India has the right to issue currency notes except

one rupee notes which are issued by the Ministry of Finance.

 There are many advantages of Reserve Bank of India.

I. brings uniformity in notes issue

II. makes possible effective state supervision

III. easy to control and regulate with requirements in the economy.

IV. Keeps faith of the public in the paper currency.

2. Banker to Government:

 The Reserve Bank manages the banking needs of the Government.

 It has to maintain and operate the Government’s deposit accounts.

 It represents the Government of India as the member of the IMF and the

World Bank.

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3. Custodian of Cash Reserves of Commercial Banks:

 The Commercial banks hold deposits in the Reserve Bank and the latter

has the custody of the cash reserves of the commercial banks.

4. Custodian of country’s Foreign Currency Reserves:

 The Reserve Bank has the custody of the country’s reserves of

international currency, and this enables the Reserve Bank to deal with

crisis connected with adverse balance of payments position.

5. Lender of Last Resort:

 The commercial banks approach the Reserve Bank in times of

emergency to tide over financial difficulties, and the Reserve bank comes

to save from their danger from higher rate of interest.

6. Central Clearance and Accounts Settlement:

 It is easy to deal with each other and settle the claim of each on the other

through book keeping entries in the books of the Reserve Bank.

 The clearing of accounts has now become an essential function of the

Reserve Bank.

7. Controller of Credit:

 The supply of money has important implications for economic stability and

the importance of control of credit becomes obvious

 Credit is controlled by the Reserve Bank in accordance with the economic

priorities of the Government.


 In every country there is one organization which works as the Central


 The function of the central bank of a country is to control and monitor the

banking and financial system of the country

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 In, India the Reserve Bank of India (RBI) is the Central Bank.

 RBI is the Regulator of Financial System. The objectives of these

regulation include:

 Controlling money supply in the system,

 Monitoring different key indicators.

 Maintaining people’s confidence in banking and financial system.

 RBI is the Controller and Supervisor of Banking systems. These banks

may be:

 Public sector banks

 Private sector banks

 Foreign banks

 Co-operative banks, or

 Regional rural banks.

Important Materials Related to Banking Awareness:

Important Information about Nationalized Banks in India

List of Nationalized Banks and Its CMDs

List of Nationalized Banks and its Headquarters

Important Insurance Awareness Capsule

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