Management on Banking & Insurance

allow fix of India ( rbi)  is Indias central fix - it formulates, implements and monitors Indias monetary policy. Reserve bank of India was established in 1935 and nationalised in 1949. It is fully possess by the establishment of India and its headquarters are located in Mumbai. RBI has 22 regional offices in the various country capitals of  India. It has a majority stake in the State trust of India The main functions of the Reserve Bank of India are: 1. The Reserve Bank of India  is the regulator and supervisor of the financial system: 2. RBI defines the  guidelines  concord to which the  banking operations within which the countrys banking and financial system functions. It  tries to comfort depositors interests and provides cost-effective banking services to the public by monitoring the go of banks. If a bank does not solve a customers job they can approach the Reserve bank of India through the Banking Ombudsman Scheme 3. hostile exchange inflow and give awayflow is regulated by the  the external Exchange Management Act, 1999 of RBI. All money transfer out of  India, for both personal and trade purposes  is subject to limits defined by RBI 4. The Reserve Bank of India issues capital - notes and coins of various denominations.

It also issues and exchanges or destroys damaged currency and coins not fit for circulation. The design of  the currency is periodically modified to prevent circulation of fake currency. 5. The RBI is the banker to the Government of India. It performs merchant banking function for the central and the state governments. Government departments bank with the Reserve bank of India. For example, in Mumbai, the Income revenue department issues tax refunds drawn on the Reserve bank of India. 6 RBI is the banker to all major banks. It maintains banking accounts of all scheduled banks in India. Deposits of up to Rs 1 lakh in scheduled banks are insured. cash in withdrawal tax is applicable only for withdrawals from scheduled banks. Smaller... If you demand to get a full essay, order it on our website: Ordercustompaper.com

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