Best commerce classes in Pune, Behere's Commerce Classes Brings an informative series on Basics of Economics: Part 6: Reserve Bank of India (RBI) RBI was established in 1935 under the provisions of the RBI Act, 1934. Functions: It performs seven major functions- 1. Print Notes: RBI has the sole autonomy to print currency notes. Remember that, Government of India has the sole authority to mint coins and one rupee notes. 2. Banker to the Government: RBI manages the government’s deposit accounts. It also represents govt. in the IMF and World Bank. 3. RBI is the custodian of Commercial Bank Deposits and It Regulates and supervises the banking and non-banking financial institutions, including credit information companies 4. RBI is the Custodian to Country’s Foreign Currency Reserves and management of Current and Capital accounts 5. Lender of Last Resort: Commercial banks go to RBI for their monetary needs in case of an emergency. 6. Central Clearance and Accounts Settlement: As RBI keeps cash reserves (in the form of CRR) from commercial banks, therefore, it rediscounts their bills of exchange easily 7. Credit Control: It controls the supply of money in the economy through its monetary policy (By using qualitative and quantitative instruments of monetary control, we will discuss them in some other article) Thank You. Other Parts of this series are available on www.behereclasses.com Tags: Best 11th commerce classes in Pune, 11th commerce class in Pune, top commerce coaching in pune, Commerce classes in Pune city, 12th commerce classes in Pune, 12th commerce class in Pune, commerce classes near me, best commerce classes near me, 11th 12th commerce classes near me, BBA coaching classes in Pune, BBA classes near me, BCom classes in Pune, BCom classes near me, BBA tuitions near me, BCom tuitions near me, commerce tuitions near me, classes for 11th commerce, CA foundation classes, CS foundation classes, best CA foundation classes, best CS foundation classes, CA classes in Pune, Pune 11th commerce classes, tuitions for 11th commerce