RBI Functions: Identifying Roles of the Reserve Bank of India
The Reserve Bank of India (RBI) performs several crucial functions as the country's central bank. Let's analyze the given options:
- Banker to the government: The RBI acts as a banker for the Central Government and State Governments, managing their accounts, accepting receipts, and making payments.
- Bank of currency issue: The RBI has the sole authority to issue currency notes (except one rupee notes and coins) in India, managing the country's monetary system.
- Lender of the last resort: The RBI provides financial accommodation to banks facing temporary liquidity shortages, ensuring the stability of the banking system.
The function that is NOT performed by the RBI is acting as a banker directly to the general public. The RBI's primary role is to regulate the banking system and act as a bank for other banks and the government, not for individual citizens or businesses.
Therefore, Banker to the public is NOT a function of the Reserve Bank of India.
Similar Questions
- Who among the following has never been a Governor for Reserve Bank of India?
- Which system has been adopted by the Reserve Bank of India for note issue?
- What is the emblem of RBI?
- Who among the following was the first Indian Governor of the Reserve Bank of India?
- The regulatory authority of money supply in India is the:
- What does the term 'bank rate' refer to?
- Which of the following is NOT a function of the Reserve Bank of India (RBI)?
- The Financial Literacy Week is an initiative by:
- The Reserve Bank of India has established a comprehensive Digital Payment Index (DPI) to record the degree of digitization of payments with _____ as base period.
- Where is the office of the Governor of the Reserve Bank of India?
Important Questions from RBI
The Central Board of Directors of the Reserve Bank of India are appointed for a term of ______ years.
Which of the following Acts was amended to provide a statutory basis for the implementation of the flexible inflation targeting (FIT) framework?
In which year was The Reserve Bank of India was established?
Which of the following institutions is responsible for regulating the formal sources of credit in India?
Which of the following statements about the Reserve Bank of India (RBI) is NOT correct?
