Why is Reserve Bank of India known as banker to the government? – InterviewSolution

1.

Why is Reserve Bank of India known as banker to the government?

Answer»

Monetary functions (Monetary responsibilities):

Banker to the government:

RBI is a banker to government i.e. it works as a bank for the government.
It maintains all the banking accounts of the government departments.
As a banker, RBI gives loan to government, deposits money of the government, gives cash for payments of salaries and wages to staff, collects cheques, etc.

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