CA Foundation Exam > CA Foundation Questions > Who works as RBIs agent at places where it ha...
Start Learning for Free
Who works as RBI's agent at places where it has no office of its own?
- a)State Bank of India
- b)Ministry of Finance
- c)Government of India
- d)International Monetary Fund
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Who works as RBIs agent at places where it has no office of its own?a)...
Answer : a)
View all questions of this test
The State Bank of India
works as RBI's agent at places where it has no office of its own.
Most Upvoted Answer
Who works as RBIs agent at places where it has no office of its own?a)...
State Bank of India as RBI's Agent
The Reserve Bank of India (RBI) is the central bank of India and manages the country's monetary policy, regulates the banking sector, issues currency and operates payment systems. RBI has its own offices in various parts of the country to carry out its functions. However, there are some places where RBI does not have its own office. In such places, RBI appoints an agent to carry out its functions. The agent is appointed by RBI to perform certain functions on its behalf.
State Bank of India (SBI) is the agent of RBI in places where it does not have its own office. SBI is the largest commercial bank in India and has a vast network of branches across the country. As an agent of RBI, SBI performs various functions on behalf of RBI. Some of the functions performed by SBI as an agent of RBI are:
1. Currency Management: SBI manages the currency chest on behalf of RBI. It ensures that the currency issued by RBI is distributed to various banks and financial institutions in the region.
2. Government Business: SBI carries out various government transactions on behalf of RBI. It collects taxes, issues government bonds, and manages the public debt.
3. Banking Regulation: SBI acts as an agent of RBI in regulating banks and financial institutions in the region. It ensures that the banks comply with the regulations laid down by RBI.
4. Payment and Settlement Systems: SBI operates the payment and settlement systems on behalf of RBI. It ensures that the payment and settlement systems are safe, secure, and efficient.
In conclusion, State Bank of India works as an agent of RBI in places where RBI does not have its own office. As an agent of RBI, SBI performs various functions on behalf of RBI to ensure the smooth functioning of the monetary system in the country.
The Reserve Bank of India (RBI) is the central bank of India and manages the country's monetary policy, regulates the banking sector, issues currency and operates payment systems. RBI has its own offices in various parts of the country to carry out its functions. However, there are some places where RBI does not have its own office. In such places, RBI appoints an agent to carry out its functions. The agent is appointed by RBI to perform certain functions on its behalf.
State Bank of India (SBI) is the agent of RBI in places where it does not have its own office. SBI is the largest commercial bank in India and has a vast network of branches across the country. As an agent of RBI, SBI performs various functions on behalf of RBI. Some of the functions performed by SBI as an agent of RBI are:
1. Currency Management: SBI manages the currency chest on behalf of RBI. It ensures that the currency issued by RBI is distributed to various banks and financial institutions in the region.
2. Government Business: SBI carries out various government transactions on behalf of RBI. It collects taxes, issues government bonds, and manages the public debt.
3. Banking Regulation: SBI acts as an agent of RBI in regulating banks and financial institutions in the region. It ensures that the banks comply with the regulations laid down by RBI.
4. Payment and Settlement Systems: SBI operates the payment and settlement systems on behalf of RBI. It ensures that the payment and settlement systems are safe, secure, and efficient.
In conclusion, State Bank of India works as an agent of RBI in places where RBI does not have its own office. As an agent of RBI, SBI performs various functions on behalf of RBI to ensure the smooth functioning of the monetary system in the country.
Free Test
FREE
| Start Free Test |
Community Answer
Who works as RBIs agent at places where it has no office of its own?a)...
A state bank of india
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Top Courses for CA FoundationView all
Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer?
Question Description
Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer?.
Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Who works as RBIs agent at places where it has no office of its own?a)State Bank of Indiab)Ministry of Financec)Government of Indiad)International Monetary FundCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup