Working of bank is mentioned In the 1934 Reserve Bank of India Ad Working of Reserve Bank of India can be categorized In the following group
Important Functions of the Reserve Bank of India
As a Central Bank
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As an Ordinary Bank
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Note Issuing Authority
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Granting short-term loans
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Banker of Government
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Recovering ort-wm loans
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Bankers Bank
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Buying/Selling of bills
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Collects and Publishes Banking Data
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Accepting depots
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Custodian of Foreign Exchange
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Buying se4eng of agricultural bills
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Provision of Agricultural Credit
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Dealing with Foreign securities
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Provision of Industrial Credit
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Dealing with costly
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Training Facilitation
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Dealing with banks of other countries
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Controller of Credit
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Clearing House Function
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Development Functions
These functions are country specific functions and can change according to the requirements of that country The RBI has been performing as a promoter of the financial system, since its inception. Some of the major development functions of (he RBI are mentioned below
Development of Agriculture Right from the beginning. Reserve Bank of India has an Agricultural Credit Department. The principal function of this department is to conduct’ research regarding various problems of agricultural credit. Promotion of Industrial Finance Rapid industrial growth requires adequate and timely availability of credit to small, medium and large industry For this, RBI has been instrumental In setting up special financial institutions such as ICICI, IDBI, SIDBI and Exim Bank etc. Reserve Bank provides significant financial assistance for the industrial development of the country.
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