Role of RBI:- Birajita Panda

You may have heard about RBI through online advertisements which restrict
and guide the general public on monetary awareness. The reserve bank of
India is India’s central bank. A central bank is a national level bank that
provides financial banking services for it’s government and commercial
banking system. (It manages all banks- even private ones.)
Functions:-

1.issuing,printing and
circulation of currency 2. Foreign exchange 3. Controls credits and
notes management supply of money

5.*An important
4.Implements function is that it 6*Appoints the
monetary policies or ensures price stability CEOs/Chairmans of
schemes considering economic other banks
growth.
How and why was RBI created?

• The concepts of RBI was created by dr. B.R. Ambedkar

in his book “The Problem of the Rupee-it’s origin and its
solution.
• It was created by the recommendations of the 1926
Hilton Young Commission.
• It was started to respond to the economic crisis after
World War 1.
• The head bank was created on 1st April 1935 although the
it was in Calcutta before, it got moved to Mumbai later
on.
Schemes:-
RBI Retail Direct Scheme Integrated Ombudsman Scheme

Targeted at retail investors to invest easily in
government securities.
Allows retail investors to open and maintain their
government securities free of cost
More security for investors
Resolving computer customer complaints related to
security
Expanding investments
Provides cost-free redressal to the customer
complaints involving deficiency in services

Implemented on 12th November 2021 by P.M. Narendra Modi and Shaktikanta Das- the current governor of
RBI
The most important function of RBI is
awareness. It informs the
underprivileged public about safety in e-
banking and helps an tries to implement
and ensure safety against fraudsters.