Q. Which of the following function/s is/are performed by the “Reserve Bank of India”?
1.It is the issuing agency of the currency and coins including rupee one currency and coin.
2.Distributing agent for currency and coins issued by the Government of India.
3.Banker of the government.
Choose the correct answer from below given codes:
Explanation: The governments have been handing over different functions to the RBI, which stand today as given below:
- It is the issuing agency of the currency and coins other than rupee one currency and coin (which are issued by Ministry of Finance itself with the signature of the Finance Secretary on the note).
- Distributing agent for currency and coins issued by the Government of India.
- Banker of the government.
- Bank of the banks/Bank of last resort.
Source: Ramesh Singh