What is the prime function of RBI?
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RBI supervises the functioning of formal loans.Periodically the banks have to submit their information on what their lending to whom at what interest rate etc…
Functions of RBI: *RBI issues currency notes on behalf of the central govt.\t\xa0RBI supervises the functioning of formal source of loans.\t\xa0RBI monitors the banks in actually maintaining cash balance.\t\xa0It also sees that banks give loans not just for profit making and traders but also to small borrowers, small cultivators etc..\t\xa0Periodically banks have to submit information to RBI on how much they are lending, to whom, at what interest rate, etc
To supervise the functioning of banks