Introduction:
The institution mentioned in the given statement is the Reserve Bank of India (RBI). The RBI is the central bank of India and is responsible for controlling and coordinating currency and credit policies in the country. It plays a crucial role in maintaining the stability and integrity of the Indian financial system.

Key Functions of the Reserve Bank of India:

1. Monetary Authority:
The RBI is the sole authority responsible for formulating and implementing monetary policies in India. It regulates the supply of money and credit in the economy to control inflation, promote economic growth, and maintain price stability.

2. Currency Management:
The RBI has the authority to issue and manage currency in India. It ensures an adequate supply of currency notes and coins to meet the demand of the public and banks. It also works towards maintaining the integrity and security of the currency.

3. Regulator of Banks and Financial Institutions:
The RBI acts as a regulator and supervisor of banks and other financial institutions in India. It formulates and implements regulations and guidelines to ensure the stability and soundness of the banking system. It also monitors and supervises the functioning of banks to protect the interests of depositors.

4. Banker to the Government:
The RBI acts as the banker, advisor, and agent to the government at various levels. It manages the government's accounts, conducts auctions of government securities, and provides financial assistance to the government when required. It also advises the government on various financial matters.

5. Foreign Exchange Management:
The RBI manages and controls the foreign exchange reserves of the country. It formulates and implements policies to regulate foreign exchange transactions and maintain the stability of the foreign exchange market. It also manages the exchange rate of the Indian rupee.

6. Developmental Role:
The RBI plays a crucial role in promoting the development of the financial system and the overall economy. It supports various developmental initiatives, such as financial inclusion, priority sector lending, and promoting digital payments. It also conducts research and disseminates information to facilitate informed decision-making.

Conclusion:
The Reserve Bank of India (RBI) is the institution mentioned in the given statement. It is responsible for controlling and coordinating currency and credit policies in the country. The RBI performs various functions, including monetary authority, currency management, regulator of banks and financial institutions, banker to the government, foreign exchange management, and developmental role. Its primary objective is to maintain price stability, promote economic growth, and ensure the stability of the Indian financial system.