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April 29, 2015
April 24, 2015
Reserve Bank of India (RBI) & Its Functions: Promotional & Supervisory Explained
Reserve Bank of India
Indian banking system has given a
shape and structure by the formation of central bank in India, known as Reserve
Bank of India (RBI). It was established in 1935 under RBI Act 1934 with a
capital of 5 crores, divided into 100 shares of 5 lakhs each and was owned by
government with limited functions. After independence to India, RBI
was nationalized on 1st January, 1949. Banking
Regulation Act 1949 empowered RBI and gave full-fledged functions of a central
bank and as a banking and financial regulatory authority of India. By
this RBI has authority to license and control banks, audit them, inspect,
regulate and monitor.
RBI functions with certain objectives such as:
- To maintain monetary stability.
- To maintain financial stability and ensure sound financial institutions.
- To maintain stable payment systems.
- To ensure credit allocation by the financial system.
- To regulate the overall volume of money and credit in the economy.
- To promote the development of financial markets.
- To educate and convert the general public to use organized financial and banking sector.
Promotional Functions of RBI
April 23, 2015
30+ Bits on Indian Geography in Telugu Medium
MCQ's on Indian Geography in Telugu Language
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Andhra Pradesh Geography Bits for APPSC in Telugu Medium
