What are the achievements of the Reserve Bank of India?
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Achievements of the Reserve Bank of India
Following are the achievements of the Reserve Bank of India:
1. Adoption of Flexible Policy of Monetary Regulation- The Reserve Bank of India has adopted a flexible monetary policy. It has make efforts to meet the pressure of seasonal demand.
2. Government’s Bank – The Reserve Bank of India has make remarkable function in the area of the Government banker.
3. Stability in Rate of Interest – The Reserve Bank has made remarkable function in establishing stability in the rates of interest.
4. Clearing House – Clearing system is very helpful in transactions of the R. B. I. In the present time clearing work is also done with the help of computer.
5. Note Issue Work – It is the main function of the R.B.I. R.B.I. ha done this work in the good manner.
6. Proper Arrangement of Public Debts- R. B. I. is th Government banker. This bank provides proper public debt arrangement.
7. Successful in Keeping the Exchange Rate Stable – Although the devaluation of Indian rupee has been done three times, but exchange rate is stable.
8. Establishment of Bill Market – The Reserve Bank of India has established well organised bill market in 1952.
9. Credit Control Policy – The Reserve Bank of India has made man efforts to control the credit.
10. Collection and Publication of Economic Data – Statistic Department of the Reserve Bank of India has successfully collected an published data in respect of money, credit, co-operation, agriculture industrial production etc.
11. Cheap Services of the Money Transfer – The R. B. I. has made cheap facilities for transfer the money.
12. Industrial Financing – The Reserve Bank of India has provide his co-operation to small and cottage industries. R. B. I. has granted financial assistance to Industrial Finance Corporation, State Financial Corporations Industrial Development Banks etc. Reserve Bank purchases shares o debentures of these banks.
13. Other Achievements of the Reserve Bank of India – In addition to above following are some other achievements of the Reserve Bank of India:
- Success in note issue functions,
- An advisor of the Government,
- Suitable arrangement of public debts,
- Successful in regulating the banking system of the country,
- Good contribution in the field of agricultural finance.
- Work of research and investigation,
- Financing of five year plans,
- Financing to the banks,
- Assistance to the L. I. C.
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