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CENTRAL BANKING INDIAN SPECIFIC ISSUES
What is the primary mandate of the Reserve Bank of India as the central bank?
The RBI's primary mandate is to maintain monetary stability, manage currency, oversee the credit system, and ensure the development of the financial system in India.
What is the Monetary Policy Framework Agreement signed between the Government of India and the RBI?
A 2015 agreement fixing CPI inflation target at 4% with 2% band.
Which Act established the Reserve Bank of India and in which year?
The Reserve Bank of India was established under the Reserve Bank of India Act, 1934, and commenced operations on April 1, 1935.
What is the role of the Monetary Policy Committee in setting policy rates in India?
Six-member committee decides repo rate by majority vote every two months.
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