• Richa Rani

RBI, the Central Bank of our India is the apex monetary institution which supervises, regulates, controls and develops the monetary and financial system of the country. It is the sole agency of note issuing and controls the supply of money in the economy. It serves as a banker to the government and manages forex (foreign exchange) reserves of the country. The role of RBI has undergone through a rigorous change over the period of time. Earlier, it was a common perception that the role of RBI is confined to credit control depending on the economic environment of the national as well as international level. Credit control measures are Policy Rates (Bank Rate and Repo Rate) and Policy Ratios (CRR and SLR). RBI raises the different key rates such as Cash Reserve Ratio, Statutory Liquidity Ratio, REPO Rate which curb the credit creating capacity of the banks and reduces the money circulation in the economy. The bank has to simultaneously ensure three functions - liquidity, profitability as well as the safety of the fund collected from the depositors. RBI plays developmental role, promotional role, supervisory role as well as regulatory role. The objective of the research paper is to identify the role of RBI, to focus on various initiatives taken by RBI. The proposed research paper will incorporate the secondary data. The study will also include the five pillars of financial sector policies. The paper will be concluded by the various achievements of RBI.

RBI (Reserve Bank of India), CRR (Cash Reserve Ratio), SLR, Forex etc.

"Role of RBI", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.121-135, March-2019, Available :http://www.jetir.org/papers/JETIR1903C18.pdf

"Role of RBI", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp121-135, March-2019, Available at : http://www.jetir.org/papers/JETIR1903C18.pdf