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ISSUE OF RBI AUTONOMY ( Functions of RBI (ISSUER OF CURRENCY NOTES:…
ISSUE OF RBI AUTONOMY
Functions of RBI
- ISSUER OF CURRENCY NOTES: EXCEPT RE 1 NOTES AND COINS.
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RBI PROVIDES COMMERCIAL BANKING SERVICES TO BANKS, ACT AS LENDER OF LAST RESORT.
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- MANAGEMENT OF PUBLIC DEBT ON BEHALF OF GOVERNMENT.
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- ACTS AS CENTRAL BANK BY VIRTUE OF WHICH—
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INTRODUCTION ABOUT RBI
HISTORICAL BACKGROUND
RBI formed on 1st April, 1935 under RBI Act 1934 established under provision of Govt. of India Act 1935
Based on Recommendation of Hilton Young Commission or Royal Commission on Indian currency and finance.
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