Reserve Bank of India (RBI)
Reserve Bank of India (RBI) is also called as Central Bank of India. RBI was established on April 1, 1935, under the Reserve Bank of India Act, 1934. RBI maintains records of deposits from all the banks and revenue and expenditures of Governments and provides a loan to other banks whenever needed. This acts as a banker to the Government and other Banks.
Scheduled & Non–scheduled Banks
A scheduled bank is a bank that is listed under the second schedule of the RBI Act, 1934. In order to be included under this schedule of ....
