The Reserve Bank of India (RBI). Functions of RBI.

 



The Reserve Bank of India is established in 1935 under the RBI act of 1934. The headquarters of RBI is in Mumbai. It is a statutory body which regulates the compliance and functions of the banking sector and other financial institutions in the country. 

The major functions of the reserve bank of India includes controlling inflation (which should be 6% with +/- 4 basis points), issuing currency except one rupee note, which is issued by the ministry of finance.

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