RBI established on april 1935 under RBI ACT 1934.
nationalised in 1949
basic function is to regulate the issue of bank notes and keeping the reserves to maintain the monetary stability in india.
RBI formulates implements and monitors the monetary policy..... why?
1. to maintain price stability
2. to ensure adequate flow of credit to productive sector.
3. maintain financial stability.
RBI prescribed parameters of banking operation to....
1. maintain public confidence in system.
2. protects depositor interest.
3. provide cost effective banking facility.
RBI maintains foreign exchange under FEMA 1999.
RBI is called as government banks... why?
Ans. Under rbi act 1934 only rbi can provide money to the central government and no other bank can do the same. however RBI has other banks as his agent to provide loan the government.
NOTE- the money RBI gives to the government is called as WAYS AND MEANS ADVANCES.
Why RBI is called as banker's bank?
Ans- RBI maintain deposit a/c of all other banks and advances money to them when needed. it also provides guidance to banks whenever they face any problems.
why RS.1 is not printed or signed by RBI governor?
ans- rupee is the currency of india therefore it can only be printed by the central government and rest all money is BEARER NOTES therefore they are printed by RBI.
you will never see following written on RS.1 " i promise to pay the BEARER a sum of" while the same is written on every other note......
for article archives click here
nationalised in 1949
basic function is to regulate the issue of bank notes and keeping the reserves to maintain the monetary stability in india.
RBI formulates implements and monitors the monetary policy..... why?
1. to maintain price stability
2. to ensure adequate flow of credit to productive sector.
3. maintain financial stability.
RBI prescribed parameters of banking operation to....
1. maintain public confidence in system.
2. protects depositor interest.
3. provide cost effective banking facility.
RBI maintains foreign exchange under FEMA 1999.
RBI is called as government banks... why?
Ans. Under rbi act 1934 only rbi can provide money to the central government and no other bank can do the same. however RBI has other banks as his agent to provide loan the government.
NOTE- the money RBI gives to the government is called as WAYS AND MEANS ADVANCES.
Why RBI is called as banker's bank?
Ans- RBI maintain deposit a/c of all other banks and advances money to them when needed. it also provides guidance to banks whenever they face any problems.
why RS.1 is not printed or signed by RBI governor?
ans- rupee is the currency of india therefore it can only be printed by the central government and rest all money is BEARER NOTES therefore they are printed by RBI.
you will never see following written on RS.1 " i promise to pay the BEARER a sum of" while the same is written on every other note......
for article archives click here
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