Bank of India Is the Central Bank of our country On the recommendation
Hilton Young Commission it was
established on 1st April, 1935 and In 1949 It was nationalized, In terms of the preamble to the Reserve bank of India Act, 1934, ‘The main
function of the bank are to regulate the issuing of bank notes and keeping the
reserves with a
view to securing monetary
stability in India and generally to operate the currency and credit system of the country
to its advantage.
An outline of the India banking
structure may be presented as follows
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