3 Indian & AP Economy and Planning · 3.4.1 Money and monetary policy

3.4.1.3 Reserve Bank of India: history, governance and functions

RBI is India's central bank: it issues currency, runs monetary policy, regulates banks and payments, manages forex and acts as banker to the Government and to banks.

  • APPSC Group 1
  • Advanced level
  • 6 min read
  • Full course

Key terms

  • RBI
  • Hilton Young Commission
  • RBI Act 1934
  • Governor
  • Central Board
  • Section 7
  • banker's bank
  • nationalisation 1949
  • surplus transfer
  • Bimal Jalan

What this note covers

  1. Core factsFoundation
  2. ExplainedStandard
  3. DeeperAdvanced
  4. Mains writingMains writing
  5. Common trapsFoundation
  6. Quick revisionFoundation

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