GENERAL KNOWLEDGE

Detailed explanation-1: -The Reserve Bank of India (RBI) is India’s central bank. It controls the monetary policy concerning the national currency, the Indian rupee. The basic functions of the RBI are the issuance of currency, sustaining monetary stability in India, operating the currency, and maintaining the country’s credit system.

Detailed explanation-2: -A state bank is a financial institution that a state has chartered primarily to provide commercial banking services. A state bank is not the same as a central or reserve bank; these institutions are primarily concerned with influencing a government’s monetary policy.