Roles and responsibility of central bank of a country


to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in a country and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth


Summary

  • Issue of bank notes
  • Keeping eye on reserves
  • monetary policy framework
  • price stability and inflation control
  • objective of economy growth


Central banks sets and controls -

  1. policy rates - repo, reverse rates, marginal standing facility rate, bank rate
  2. reserve ratio- CRR, and SLR
  3. exchange rates
  4. lending/deposit rates  - Base rate, MCLR overnight, savings deposit rate, term deposit rate
  5. market trends- money market, government securities market, capital market
PAYMENT AND SETTLEMENT SYSTEMS

Payment and settlement systems play an important role in improving overall economic efficiency. They consist of all the diverse arrangements that we use to systematically transfer money-currency, paper instruments such as cheques, and various electronic channels.

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