39. What Is Rbi [reserve Bank Of India], When It Is Established And What Are Its Functions?
RBI established in 1935, its head office in Mumbai. Present Governor of RBI “ D. SubbaRao”. Its functions: Issues currency notes Acts as bankers bank Maintains foreign exchange reserves Maintains CRR and SLR RBI is also called as “bankers bank”, because all banks will have a/c’s with RBI. It provides funds to all banks hence it is called as BANKERS BANK.
