The Reserve Bank of India (RBI) is the central banking institution of India that oversees and regulates the monetary policies of the country. The primary functions of the RBI are as follows:

• Monetary Policy Formulation: The RBI formulates, implements, and monitors monetary policies to maintain price stability and control inflation.
• Banker to the Government: The RBI acts as the banker and debt manager to the central government, managing its accounts and issuing loans for its operations.
• Regulator and Supervisor of Banking System: The RBI regulates and supervises the banking system in India, ensuring stability, transparency, and compliance among banks.
• Issuer of Currency: The RBI is responsible for the issuance and circulation of currency notes and coins throughout the country.
• Developmental Role: The RBI plays an instrumental role in the development of the Indian economy, promoting financial inclusion, and ensuring the access of credit flow to priority sectors such as agriculture, micro, and small enterprises.
• Foreign Exchange Management: The RBI maintains and manages India's foreign exchange reserves and implements policies to regulate foreign exchange transactions.
• Payment and Settlement Systems: The RBI ensures efficient and safe payment and settlement systems in the country, contributing to overall economic stability.

Overall, the RBI's functions play an essential role in maintaining the stability and growth of the Indian economy.