India's Central Bank Identification
The central bank is a crucial financial institution responsible for managing a country's currency, money supply, and interest rates. Its primary role is to ensure monetary stability and oversee the nation's banking system.
Identifying India's Central Bank
Based on its functions and mandate, the Reserve Bank of India (RBI) is the designated central bank of India.
Analysis of Options
- Reserve Bank of India (RBI): Established in 1935, the RBI manages India's monetary policy, issues currency, regulates banks, and maintains financial stability. It is the central bank.
- Bank of India: This is a major public sector commercial bank, offering banking services to the public, not managing national monetary policy.
- State Bank of India (SBI): As the largest public sector commercial bank, SBI provides banking and financial services but does not function as the central bank.
- Securities and Exchange Board of India (SEBI): SEBI is the capital market regulator, responsible for overseeing the securities market, not for overall monetary policy or currency issuance.
Therefore, the Reserve Bank of India is the correct answer.
Important Questions from Reserve Bank of India
Which of the following is not the function of Reserve Bank of India?
Which of the following banks issues currency notes in India?
Who is the Governor of the Reserve Bank of India? (As of 2017)
Which of the following isnota function of Reserve Bank of India?
Which of the following statements related to the Reserve Bank of India (RBI) is/are true?
Statements:
I. RBI was established under the Reserve Bank of India Act, 1935.
II. RBI maintains a current account of State Governments for keeping their cash balances.
III. Sir Benegal Rama Rau was the longest serving governor of RBI.
