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Which of the following is not the function of RBI?
- a)Custodian of foreign currency
- b)Printing of currency
- c)Controller of credit
- d)Issuance of coins
Correct answer is option 'C'. Can you explain this answer?
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Which of the following is not the function of RBI?a)Custodian of forei...
Function of RBI:
1. Monetary Authority: The RBI acts as the monetary authority of India and controls the supply of money in the economy.
2. Regulator of Banking System: The RBI regulates and supervises the banking system in India to ensure its stability and efficiency.
3. Lender of Last Resort: The RBI provides emergency funds to banks and financial institutions in times of financial crisis.
4. Custodian of Foreign Currency Reserves: The RBI manages and maintains the foreign exchange reserves of India.
5. Issuer of Currency: The RBI issues and manages the supply of currency notes and coins in India.
6. Developmental Role: The RBI also plays a developmental role by promoting financial inclusion, supporting small businesses, and encouraging rural development.
Answer:
Controller of credit is not the function of RBI. Although the RBI regulates the banking system and controls the supply of money in the economy, it does not have complete control over the credit system. The credit system is also influenced by factors such as government policies, market forces, and borrower behavior.
1. Monetary Authority: The RBI acts as the monetary authority of India and controls the supply of money in the economy.
2. Regulator of Banking System: The RBI regulates and supervises the banking system in India to ensure its stability and efficiency.
3. Lender of Last Resort: The RBI provides emergency funds to banks and financial institutions in times of financial crisis.
4. Custodian of Foreign Currency Reserves: The RBI manages and maintains the foreign exchange reserves of India.
5. Issuer of Currency: The RBI issues and manages the supply of currency notes and coins in India.
6. Developmental Role: The RBI also plays a developmental role by promoting financial inclusion, supporting small businesses, and encouraging rural development.
Answer:
Controller of credit is not the function of RBI. Although the RBI regulates the banking system and controls the supply of money in the economy, it does not have complete control over the credit system. The credit system is also influenced by factors such as government policies, market forces, and borrower behavior.
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Which of the following is not the function of RBI?a)Custodian of foreign currencyb)Printing of currencyc)Controller of creditd)Issuance of coinsCorrect answer is option 'C'. Can you explain this answer?
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