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- A reserve bank, also known as a central bank or monetary authority, is an institution that manages the currency and monetary policy of a country or monetary union1. In India, the Reserve Bank of India (RBI) is responsible for formulating and implementing the government’s monetary policy, issuing bank notes and coins, managing the country’s international payments and its foreign-exchange market, acting as an investment bank for the central and state governments, and maintaining the accounts of, and extending credit to, commercial banks2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union.en.wikipedia.org/wiki/Central_bankThe RBI formulates and implements the government’s monetary policy, issues bank notes and coins, manages the country’s international payments and its foreign-exchange market, acts as an investment bank for the central and state governments, and maintains the accounts of, and extends credit to, commercial banks.www.britannica.com/topic/Reserve-Bank-of-India
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