Detail about reserve Bank of India act ,1934
The Reserve Bank design and implement the regulatory policy Framework for banking and non banking financial institution with the aim of providing people acess to the banking system, protecting depositor interest, and maintaining our health of the financial system. Its function of regulating the commercial banking sector, which emerged with the enactment of Banking Regulation Act, 1949,has over the time expanded to cover other entities amendments to the Banking Regulation Act 1949 brought cooperative bank and regional rural bank under the Reserve Bank deduction while amendments of The Reserve Bank of India Act so Development Finance Institutions, non banking financial companies and primary dealers coming under its regulations, as these entities become important player in the financial system and market. The function of The Reserve Bank of India can be summarised as under :- 1. Banking functions. 2. Issues Bank notes. 3. Monetary policy function. 4. Public debt function. 5. Foreign...