Functions of RBI

Functions of RBI

Reserve Bank of India RBI was set up in 1935 by virtue of the RBI Act 1934 .It was set up mainly as a private bank.RBI was nationalised on 1st January 1949.Banking Regulation act empowers the RBI to regulate the entire banking system in the country.The following are the functions of RBI. Functions of RBI The functions of RBI are multifarious which make it an important part of Indian economy. It has the sole authority to issue currency in the country other than one rupee and coins.RBI issues currency on…

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