Which of the following is not a function of the Reserve Bank of India?

Question

Question

This question was previously asked in

BPSC AE Paper 3 (General Studies) 14 Oct 2022 Official Paper

Answer 1

The correct answer is To catch the fake currency notes

Key Points

To catch the fake currency notes is not a function of the Reserve Bank of India (RBI).
The Reserve Bank of India (RBI) has multiple functions including maintaining the value of the rupee, regulating the flow of credit, and having supervisory power over other banks.
The RBI plays a crucial role in the financial stability and monetary regulation of India.
While the RBI issues currency notes, the responsibility of catching fake currency notes primarily lies with law enforcement agencies.

Additional Information

The Reserve Bank of India was established on 1st April 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
It is the central bank of India and is responsible for the regulation and supervision of the financial system.
The RBI also manages the country's main payment systems and works to promote its economic development.
It is headquartered in Mumbai, Maharashtra.
The RBI's functions also include issuing currency, managing foreign exchange, and acting as a banker to the government.