GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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India’s central banking institution, which controls the monetary policy of the Indian rupee.
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Govt. of India
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Central Bank of India
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Bombay Stock Exchange
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Reserve Bank of India (RBI)
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Explanation:
Detailed explanation-1: -The Reserve Bank of India, chiefly known as RBI, is India’s central bank and regulatory body responsible for regulation of the Indian banking system. It is under the ownership of Ministry of Finance, Government of India. It is responsible for the control, issue and maintaining supply of the Indian rupee.
Detailed explanation-2: -The policy often targets inflation or interest rate to ensure price stability and generate trust in the currency. The monetary policy in India is carried out under the authority of the Reserve Bank of India.
Detailed explanation-3: -The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
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