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Which of the following is not one of the main functions of the Reserve Bank of India?
- a)Formulating policies to facilitate external trade and payments
- b)Supervising the entire tax system
- c)Maintaining accounts of central and state governments
- d)Regulating Payment Systems
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which of the following is not one of themain functions of the Reserve ...
Main functions of Reserve Bank of India
The Reserve Bank of India (RBI) is the central bank of India, responsible for regulating the monetary policy, controlling inflation, and maintaining financial stability in the country. The main functions of the RBI include:
1. Formulating monetary policy: The RBI formulates and implements the monetary policy of the country with the aim of maintaining price stability, ensuring adequate flow of credit to productive sectors, and promoting economic growth.
2. Regulating the banking sector: The RBI regulates and supervises the banking sector in India to maintain financial stability, ensure the safety and soundness of banks, and protect the interests of depositors.
3. Managing foreign exchange reserves: The RBI manages the foreign exchange reserves of the country and ensures the stability of the rupee in the foreign exchange market.
4. Regulating payment systems: The RBI regulates and supervises payment systems in the country to ensure the safety, security, and efficiency of payment and settlement systems.
5. Developmental role: The RBI plays a developmental role in the economy by promoting financial inclusion, supporting the development of financial markets, and providing credit to priority sectors such as agriculture and small-scale industries.
Not a function of RBI
Supervising the entire tax system is not a function of the RBI. The responsibility of collecting taxes and administering the tax system lies with the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance.
The Reserve Bank of India (RBI) is the central bank of India, responsible for regulating the monetary policy, controlling inflation, and maintaining financial stability in the country. The main functions of the RBI include:
1. Formulating monetary policy: The RBI formulates and implements the monetary policy of the country with the aim of maintaining price stability, ensuring adequate flow of credit to productive sectors, and promoting economic growth.
2. Regulating the banking sector: The RBI regulates and supervises the banking sector in India to maintain financial stability, ensure the safety and soundness of banks, and protect the interests of depositors.
3. Managing foreign exchange reserves: The RBI manages the foreign exchange reserves of the country and ensures the stability of the rupee in the foreign exchange market.
4. Regulating payment systems: The RBI regulates and supervises payment systems in the country to ensure the safety, security, and efficiency of payment and settlement systems.
5. Developmental role: The RBI plays a developmental role in the economy by promoting financial inclusion, supporting the development of financial markets, and providing credit to priority sectors such as agriculture and small-scale industries.
Not a function of RBI
Supervising the entire tax system is not a function of the RBI. The responsibility of collecting taxes and administering the tax system lies with the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance.
Community Answer
Which of the following is not one of themain functions of the Reserve ...
Tax system is controlled and supervised by the central and state governments.
(कर प्रणाली केंद्र और राज्य सरकारों द्वारा नियंत्रित और पर्यवेक्षित की जाती है | )
(कर प्रणाली केंद्र और राज्य सरकारों द्वारा नियंत्रित और पर्यवेक्षित की जाती है | )
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Which of the following is not one of themain functions of the Reserve Bank of India?a)Formulating policies to facilitate external tradeand paymentsb)Supervising the entire tax systemc)Maintaining accounts of central and stategovernmentsd)Regulating Payment SystemsCorrect answer is option 'B'. Can you explain this answer?
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Which of the following is not one of themain functions of the Reserve Bank of India?a)Formulating policies to facilitate external tradeand paymentsb)Supervising the entire tax systemc)Maintaining accounts of central and stategovernmentsd)Regulating Payment SystemsCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following is not one of themain functions of the Reserve Bank of India?a)Formulating policies to facilitate external tradeand paymentsb)Supervising the entire tax systemc)Maintaining accounts of central and stategovernmentsd)Regulating Payment SystemsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is not one of themain functions of the Reserve Bank of India?a)Formulating policies to facilitate external tradeand paymentsb)Supervising the entire tax systemc)Maintaining accounts of central and stategovernmentsd)Regulating Payment SystemsCorrect answer is option 'B'. Can you explain this answer?.
Which of the following is not one of themain functions of the Reserve Bank of India?a)Formulating policies to facilitate external tradeand paymentsb)Supervising the entire tax systemc)Maintaining accounts of central and stategovernmentsd)Regulating Payment SystemsCorrect answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Which of the following is not one of themain functions of the Reserve Bank of India?a)Formulating policies to facilitate external tradeand paymentsb)Supervising the entire tax systemc)Maintaining accounts of central and stategovernmentsd)Regulating Payment SystemsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is not one of themain functions of the Reserve Bank of India?a)Formulating policies to facilitate external tradeand paymentsb)Supervising the entire tax systemc)Maintaining accounts of central and stategovernmentsd)Regulating Payment SystemsCorrect answer is option 'B'. Can you explain this answer?.
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