Question

Which of the following formulates, implements and monitors the monetary policy in India?

• A. SBI
• B. CAG
• C. RBI
• D. SEBI

Answer 1

Answer:

C. RBI

In India, the Reserve Bank of India (RBI) is responsible for formulating, implementing, and monitoring the monetary policy, with the goal of maintaining price stability and supporting economic growth. The Reserve Bank of India (RBI) is the central bank of India, which began operations on Apr. 1, 1935, under the Reserve Bank of India Act. The Reserve Bank of India uses monetary policy to create financial stability in India, and it is charged with regulating the country’s currency and credit systems.