What is RBI?

What is RBI?

The RBI is India's central bank. The Reserve Bank of India was
established on April 1, 1935 in accordance with the provisions of the
Reserve Bank of India Act, 1934.RBI acts as a banker to the Government
and Banks.The Central Bank maintains record of Government revenue and
expenditure under various heads. It maintains deposit accounts of all
other banks and advances money to other banks, when needed.Another
important function of the Central Bank is the issuance of currency
notes, regulating their circulation in the country by different methods.

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