Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsBANKING AND MONETARY POLICY2 Marks
Question
State monetary functions of RBI.
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Answer
1. Currency Issue: RBI has the sole right to issue currency notes of Rs. 2 and above. 2. Banker to the Government: It manages government accounts and advises on financial matters. 3. Banker's Bank: It acts as a lender of last resort for commercial banks.
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