Which of the following are the functions of Reserve Bank of India? A. Issue of Currency B. Accepting…
The statutory core functions of the Reserve Bank of India (RBI) as the country's central bank include having the monopoly of Issue of Currency notes (A), acting as Banker,…
Choose your answer
Which of the following are the functions of Reserve Bank of India?
A. Issue of Currency
B. Accepting Deposits
C. Banker of Government
D. Bankers Bank
E. Credit Control
Answer and explanation
Correct answer D
The statutory core functions of the Reserve Bank of India (RBI) as the country's central bank include having the monopoly of Issue of Currency notes (A), acting as Banker, Agent, and Adviser to the Government (C), serving as the Bankers' Bank and lender of last resort (D), and exercising Monetary and Credit Control (E). Accepting general deposits from the public (B) is a commercial banking function, not a central banking function.
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UGC NET Commerce