Central Bank is called the Bank of Banks because all types of banks are licensed to operate. Guidelines, and fulfillment of loan is done by the Central Bank only. Reserve Bank of India is the central bank of our country India, which has the right to print the country’s currency notes. That is, to put it clearly, the work of maintaining the banking system of the country is done by the Central Bank only.
FAQ
- When was the Central Bank established in India?
The Central Bank of India was established on 01 April 1935.
- Where is the headquarters of the Central Bank?
The headquarters of the central bank is located in Mumbai, India.
- Who established the Central Bank in India?
The central bank in India was established by the British Government on the recommendation of the Hilton Young Commission.
- Which is the central bank of India?
The central bank of India is the Reserve Bank of India.
- Why is the Central Bank called the Bank of Banks?
The control and supervision of the banking system in the country is done by the central bank, due to which the central bank is called the banker’s bank.