CBSE Class 10 Answered
Which government body supervises the
functioning of formal sources of loans in India? Explain any two of its
functions.
Asked by Topperlearning User | 03 Jul, 2014, 10:09: AM
Expert Answer
The Reserve Bank of India (RBI) supervises the functioning of formal sources of credit in India. Two functions of RBI are as listed below:
- The RBI monitors the banks if they are actually maintaining required cash balance.
- RBI also sees to it that the banks in India provide loans to not only rich sections of society but also to poor people.
Answered by | 03 Jul, 2014, 12:09: PM
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