Reserve Bank of India

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RBI

Beginner Level India Banking & Finance 2 views

Definition

India's central banking institution that controls monetary policy, regulates banks, and manages currency.

Detailed Explanation

Established in 1935, RBI is headquartered in Mumbai. It sets repo rate, CRR, SLR; issues currency; regulates banks and NBFCs; manages forex reserves. The Governor leads the institution.

Example

RBI's decision to cut repo rate by 0.25% makes loans cheaper for consumers and businesses.

Local Context (India)

RBI is the backbone of India's financial system, ensuring stability and regulating all banking activities.

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