Introduction:
The Reserve Bank of India (RBI) is the central banking institution of India and is responsible for the regulation and supervision of the country's financial system. It plays a crucial role in maintaining price stability, controlling inflation, and promoting economic growth. It performs various functions to fulfill its objectives.

Explanation:
Among the given options, "D) None of the above" is the correct answer as all the functions mentioned in options A, B, and C are indeed performed by the RBI.

Functions of RBI:

1. Branch licenses and expansion:
The RBI has the authority to grant licenses for the establishment of new bank branches and to regulate the expansion of existing banks. It ensures that the branches are opened in a manner that promotes financial inclusion and meets the banking needs of the population.

2. Supervision of assets and liabilities:
The RBI closely monitors the assets and liabilities of banks operating in India. It conducts regular inspections and audits to ensure that banks maintain sufficient capital and liquidity levels. It also oversees the implementation of risk management systems and adherence to prudential norms.

3. Reconstruction and liquidity:
In times of financial distress or crisis, the RBI takes measures to address liquidity concerns and stabilize the banking system. It can provide liquidity support to banks through various mechanisms, such as open market operations, repo rate adjustments, and emergency lending facilities. It also has the authority to restructure and resolve troubled banks to protect depositors' interests and maintain financial stability.

Conclusion:
The RBI performs a wide range of functions to regulate and supervise the Indian financial system. It grants branch licenses, supervises assets and liabilities, and takes measures to ensure liquidity and stability. Therefore, the correct answer is option D) None of the above.