Definition of Central Bank

Definition of Central Bank

1. “A central bank being generally recognized as a bank which constitutes the apex of the monetary and banking structure of its country and which performs as best as it can, in the national economic interest.”

- De Kock. He gave a list of seven functions of central bank which are accepted by majority of economists.

2. “It may be defined as an institution charged with the responsibility of managing the expansion and contraction of the volume of money in the interest of the general public welfare.” - Kent.

3. “A Central Bank is the bank in any country to which has been entrusted the duty of regulating the volume of currency and credit in that country.” - Bank of International Settlement(BIS).