Which of the following depict the characteristics of the Reserve Bank of India?

A. It issues the currency of the country.

B. It controls money supply of the country through various methods.

C . It acts as a banker to the government.

D. It accepts deposits from the public and lends out part of these funds to those who want to borrow.

Correct option is B

​The correct answer is (b) A, B and C​

Explanation: Let us have a quick glance at some characteristics of the Reserve Bank of India (RBI):

• Central bank: The RBI is India's central bank, and is fully owned and operated by the Government of India.
• Economic and financial stability: The RBI is responsible for the country's economic and financial stability.
• Banking sector: The RBI plays a key role in the smooth functioning of the banking sector.
• Foreign exchange reserves: The RBI manages India's foreign exchange reserves, which include gold and foreign currencies.
• Banker to the banks: The RBI acts as a banker's bank, providing funds and regulations to other banks. It also guides, helps, and directs other commercial banks.
• Sole issuer of banknotes: The RBI is the sole issuer of banknotes in India.
• Deposit Insurance and Credit Guarantee Corporation: The RBI established the Deposit Insurance and Credit Guarantee Corporation to provide insurance for deposits and credit facilities to Indian banks.
• Monetary policy: The RBI modernizes the framework of monetary policy to meet economic challenges.