RBI
RBI stands for RESERVE BANK OF INDIA
RBI was established in 1934 under the RBI act and is a sole Central bank of our country that regulates the whole Banking sector and has responsibly of maintaining correct cash flow to fight inflation.RBI has major role in banking reforms and fighting the NPA
The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as:
“to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth.”