Role of the Reserve Bank
A government has the
responsibility to regulate money supply and oversee the monetary policy.
Hoarding of money must be avoided at all costs in a country’s economy. Only
then money can be saved in banks.
A major portion of the
savings in banks are used for the development of industries, economic growth
and various development schemes for the welfare of the poor.
All the major and
important banks were nationalised (1969) in India. The Reserve Bank of India
(RBI) regulates the circulation of currency in India.
The Reserve Bank of
India started its operations on 1st April 1935. It was permanently moved to
Mumbai from the year 1937. RBI was natinolised in 1949. 85% of the printed
currency is let for circulation. According to the statistics available as on
August 2018, currency worth of 19 lakh crore are in circulation.
attempts to meet the educational aspirations of the society.
A student is the main
A parent, spouse or
sibling can be the co-applicant.
It is offered to
students who want to pursue higher education in India or overseas.
It can be taken for a
full time, part
– time or vocational
course and Graduation or Post Graduation.
There is no security
required for the loan amount up to ` 4 lakhs
The loan is repaid by
the student generally after the employment.
Students can apply
through “Vidya Lakshmi Portal Education Loan Scheme”. (http s:// ww w.
vidyalakshmi. co. in/)