Central Bank - The Financial Power

Money is that commodity which controls economy and the world. This commodity has its own value in today's world. At a time there was a barter system. Slowly the time changed era changed development happened and that led to a formation of the currency which is simply a piece of paper but it has its own value. And with changing time banks got developed with started dealing with the money in the economy.

Every country has its own Central Bank which controls the flow of money in the economy of that country. Even the central bank is the one which controls the inflation of the country. The monetary market of a country is regulated by the central bank through its policy to control the movement of currency in the market. The policy through which the money is controlled helps Central Bank to manage money supply to achieve specific goal such as constraining inflation,maintaining and appropriate exchange rate generating jobs and growth.If you talk about the country India RBI is the supreme Bank of India or can be called "Bank of the banks". RBI stands for reserve Bank of India. This bank was set up on the basis of Hilton young commission recommendation in April 1935 with the enactment of RBI act 1934. RBI was nationalised in 1949 and its first Indian governor was CD Deshmukh. The headquarter of RBI was in Calcutta but shifted to Mumbai in the year 1937, because Mumbai is also called the finance capital of India.…..Read Full Article on -: https://www.changingdecade.com/2022/08/banking-system-india.html

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