Monetary Authority: Formulates, implements and monitors the monetary policy.
Objective: maintaining price stability and ensuring adequate flow of credit to productive sectors.
Regulator and supervisor of the financial system: Prescribes broad parameters of banking operations within which the country’s banking and financial system functions.
Objective: maintain public confidence in the system, protect depositors’ interest and provide cost-effective banking services to the public.
Manager of Foreign Exchange: Manages Foreign Exchange through Foreign Exchange Management Act, 1999.
Objective: to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.
Issuer of currency: Issues and exchanges or destroys currency and coins not fit for circulation.
Objective: to give the public adequate quantity of supplies of currency notes and coins and in good quality.
Developmental role: Performs a wide range of promotional functions to support national objectives.
Related Functions: Banker to the Government: performs merchant banking function for the central and the state governments; also acts as their banker.
Banker to Banks: Maintains banking accounts of all scheduled banks.
OFFICES: RBI has 19 regional offices, most of them in state capitals and 9 Sub-offices. It also has five training establishments.