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Banking & Monetary Policy
Central bank controls the monetary policy of India. It is also known as bankers to govt. It's primary function are: Issue of currency Banker's Bank Exchange management Credit control Extending banking Commercial Bank provides deposit and withdrawal facilities to general public. These banks includedRead more
Central bank controls the monetary policy of India. It is also known as bankers to govt. It’s primary function are:
Commercial Bank provides deposit and withdrawal facilities to general public.
These banks included under 2nd schedule of RBI Act 1934 and have paid of capital equal to ₹ 5lac Or more. It’s main functions are:
- Accepting deposits
- Credit creation
- Lending money
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