{"id":3946959,"date":"2020-06-18T20:44:12","date_gmt":"2020-06-18T15:14:12","guid":{"rendered":"https:\/\/entri.app\/blog\/?p=3946959"},"modified":"2023-11-15T12:51:12","modified_gmt":"2023-11-15T07:21:12","slug":"role-of-rbi-in-indian-banking-system","status":"publish","type":"post","link":"https:\/\/entri.app\/blog\/role-of-rbi-in-indian-banking-system\/","title":{"rendered":"Role of RBI in Indian Banking System"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d0ebad0573d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d0ebad0573d\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/entri.app\/blog\/role-of-rbi-in-indian-banking-system\/#What_is_RBI\" >What is RBI?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/entri.app\/blog\/role-of-rbi-in-indian-banking-system\/#Role_of_RBI_in_Indian_Banking_System\" >Role of RBI in Indian Banking System<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_is_RBI\"><\/span><strong>What is RBI?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/entri.app\/blog\/rbi-grade-b-interview\/\" target=\"_blank\" rel=\"noopener noreferrer\">Reserve Bank of India (RBI)<\/a>, is the central bank of India. It was established in the year 1935 on April 13 in Calcutta. Initially, RBI was a private bank and it was nationalised later in the year 1949 and moved to Mumbai. It acts as a representative of our country in the <a href=\"https:\/\/entri.app\/blog\/20-facts-about-international-monetary-fund-imf-banking-awareness\/\" target=\"_blank\" rel=\"noopener noreferrer\">International Monetary Fund (IMF).<\/a> It ensures financial stability in India through monetary policies. It is the RBI who regulates the currency, which means it issues currency, and credit systems of our country. \u00a0It does not perform the daily functions as done in other banks. It is more like the bank of all banks. Let us learn more about the role of Reserve Bank of India in Indian banking system.<\/p>\n<p><a href=\"https:\/\/entri.app\/exam\/bank-exam-coaching-online\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"300\" class=\"aligncenter wp-image-2639023 size-full\" src=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/05\/Banking-2.0_rectangle_bannner-2.png\" alt=\"Banking-2.0_rectangle_bannner\" srcset=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/05\/Banking-2.0_rectangle_bannner-2.png 600w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/05\/Banking-2.0_rectangle_bannner-2-300x150.png 300w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/05\/Banking-2.0_rectangle_bannner-2-360x180.png 360w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Role_of_RBI_in_Indian_Banking_System\"><\/span><strong>Role of RBI in Indian Banking System<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>1.\u00a0 The main aim of RBI is to ensure stability of price which is done through monetary policies. Monetary policies are those actions taken by RBI to control the supply of money in order to ensure economic growth. RBI makes regular changes in the credit control measures as it seems fit to ensure economic stability which may include changing the Bank Rate, Repo Rate etc. It ensures low and stable inflationary and deflationary trends.<\/p>\n<p>2. RBI sets the Mumbai Inter bank Offer Rate (MIBOR), which is the interest charged by one bank on the loan given to another bank. Hence, RBI sets the datum line for all interest related matters in India.<\/p>\n<p>3. The financial sector of India comprising of commercial banks, financial institutions and non-banking firms are supervised by RBI. As per the Foreign Exchange Management Act, RBI owns the right to manage all foreign exchange so as to facilitate external trade and also to ensure proper development of foreign exchange market in India. The Forex and gold exchange of our country is also maintained by RBI.<\/p>\n<p style=\"text-align: center;\"><a class=\"btn btn-default\" href=\"https:\/\/entri.app\/exam\/bank-exam-coaching-online\/\">Get your dream bank job ! enroll now !!<\/a><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/entri.app\/exam\/bank-exam-coaching-online\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" width=\"720\" height=\"90\" class=\"aligncenter wp-image-3082333 size-full\" src=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/06\/unnamed.jpg\" alt=\"unnamed\" srcset=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/06\/unnamed.jpg 720w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/06\/unnamed-300x38.jpg 300w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<p>4. RBI is the only bank who has the authority to issues currency and coins in our country which means that RBI can create or destroy as it seems fit. For example, the currency notes of rupees thousand was destroyed in the year 2018 and changed the notes of other denominations and also introduced two thousand-rupee notes. RBI works as the agent of Government of India who mint coins and RBI distributes the coins. It acts as the banker to the Government of India. By the issue of bonds and securities to the public, RBI ensures that the Government of India earns money from them. It acts as a guide to the Government by retaining credits without charging interests, by carrying exchange payments and so on.<\/p>\n<p>5. All the banks maintain an account with the Reserve Bank of India. Hence, RBI acts as a bank for other commercial banks. Maintaining an account in RBI ensures that the banks maintain the reserve requirements. Also, RBI acts as a lender for all the other banks.<\/p>\n<p>6. RBI regulates the financial system of our country. It regulates and supervises the activity of other banks by various methods like supervising the bank license, inspections, off site surveillance etc thereby, building the confidence of the public in the banking system. It issues banking license without which no bank or new branch of any of the existing bank is authorized to function.<\/p>\n<p>7. RBI has formulated the standard boarding of India and Banking codes (BCSBI) in accordance with the global practices to calculate the standards of other banks and their banking practices. It also formed the Fair Practice Code for investors in order to ensure that the interest of the investors is protected as well.<\/p>\n<p>Hence, RBI ensures that our country is financially stable through the roles mentioned in this article. A job in RBI can hence be your chance to be a superhero and play a part in ensuring that our country is financially stable.<a href=\"https:\/\/entri.app\/exam\/bank-exam-coaching-online\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" width=\"720\" height=\"90\" class=\"aligncenter wp-image-3082333 size-full\" src=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/06\/unnamed.jpg\" alt=\"unnamed\" srcset=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/06\/unnamed.jpg 720w, https:\/\/entri.app\/blog\/wp-content\/uploads\/2020\/06\/unnamed-300x38.jpg 300w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\" \/><\/a><\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center;\" colspan=\"3\"><strong>Our Offerings<\/strong><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/entri.app\/exam\/bank-exam-coaching-online\/\"><strong>Bank Exam Coaching Online<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/exam\/sbi-clerk-online-coaching\/\"><strong>SBI Clerk Online Coaching<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/exam\/ibps-po-online-coaching\/\"><strong>IBPS PO Online Coaching<\/strong><\/a><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/entri.app\/exam\/rbi-assistant-coaching\/\"><strong>RBI Assistant Coaching<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/exam\/sbi-po-online-coaching\/\"><strong>SBI PO Online Coaching<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/exam\/ibps-clerk-online-coaching\/\"><strong>IBPS Clerk Online Coaching<\/strong><\/a><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/entri.app\/exam\/ibps-so-online-coaching\/\"><strong>IBPS SO Online Coaching<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/exam\/bank-exam-coaching-online\/\"><strong>IBPS RRB Online Preparation<\/strong><\/a><\/td>\n<td><a href=\"https:\/\/entri.app\/exam\/rbi-grade-b-coaching\/\"><strong>RBI Grade B Coaching<\/strong><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>What is RBI? Reserve Bank of India (RBI), is the central bank of India. It was established in the year 1935 on April 13 in Calcutta. Initially, RBI was a private bank and it was nationalised later in the year 1949 and moved to Mumbai. It acts as a representative of our country in the [&hellip;]<\/p>\n","protected":false},"author":56,"featured_media":3947674,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[802,246],"tags":[],"class_list":["post-3946959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-banking"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Role of RBI in the Indian Banking System - Entri Blog<\/title>\n<meta name=\"description\" content=\"Reserve Bank of India is the apex of our banking system. 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