RBI stands for Reserve Bank of India. RBI is the governing body for all banks in India. It supervises the operations of all banks that operate in India. They decide the interest rates, cash reserve ratio, liquidity issue etc that these banks are supposed to maintain. All banks in India are supposed to abide by the rules laid down by the RBI.
The main functions of RBI are:-
government securities
State Bank of India (SBI) is the largest nationalized bank in India but it does not perform any role when it comes to Reserve Bank of India (RBI). The RBI is an independent entity that takes policy decisions with respect to Banking in India and SBI along with all other banks in India have to adhere to the guidelines set up by RBI.
The RBI
RBI(Reserve Bank of India)
No. RBI is not a regular commercial bank that provides banking services to normal people. You can get loans only from regular commercial banks like SBI or ICICI. RBI will give loans only to the regular commercial banks in India.
government securities
Developing Banking
State Bank of India (SBI) is the largest nationalized bank in India but it does not perform any role when it comes to Reserve Bank of India (RBI). The RBI is an independent entity that takes policy decisions with respect to Banking in India and SBI along with all other banks in India have to adhere to the guidelines set up by RBI.
Banking system in India is monitored by an agency called RBI. RBI grants licenses to new banks after consulting it with government agencies.
RBI
RBI Stands for Reserve Bank of India. RBI is the central bank of India and they supervise the banking operations in the country. They do not provide banking accounts to individuals or company's So, the answer to your question is - No, you cannot open a current account for your company at RBI.
The RBI
RBI is the regulator or supervisors of banking operations in India. Individuals cannot have bank accounts with them. Only banks that are authorized to provide banking services in the country are allowed to have accounts with the Reserve Bank
in1995 and revised in 2002
RBI(Reserve Bank of India)
the banks which are not under the purview of second schedule of RBI Act.
The Banking System of India is regulated by the Reserve Bank of India or RBI. RBI was established in the year 1935 with headquarters in Mumbai, India to oversee and supervise the banking industry in India. Every bank that functions inside the border of the country of India have to obtain prior approval from RBI before starting services and is bound to follow all the rules and guidelines laid down by them. The primary goal of RBI is to protect the citizens of the country from unfair practices which the banks may indulge in, if left unregulated/unsupervised.