What are the main functions of the Reserve Bank of India (RBI)
Explain the primary roles and responsibilities of the Reserve Bank of India in regulating the country's monetary policy and financial stability.
- Formulation and implementation of monetary policy to maintain price stability and economic growth.
- Regulation and supervision of the banking and financial system to ensure financial stability.
- Issuance and regulation of the country's currency to maintain its integrity and value.
- Management of foreign exchange reserves to ensure stability in external sector and facilitate international trade.
- Development and maintenance of efficient payment and settlement systems to facilitate smooth fund transfers.
- Acting as a banker to the government by managing its public debt and undertaking financial transactions on its behalf.
- Conducting research and analysis to support policy-making and promote financial inclusion and stability.
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