The correct answer is D. All of the above.
The Reserve Bank of India (RBI) is the central bank of India. It was established on April 1, 1935, in accordance with the Reserve Bank of India Act, 1934. The RBI is the banker to the Government of India, the banker’s bank, and the lender of last resort to the banking system. It is also responsible for issuing currency in India and for regulating the country’s monetary and financial system.
The RBI has the power to control the activities of all banks in India, including commercial banks, cooperative banks, foreign banks, and rural banks. It does this through a variety of means, including setting reserve requirements, prescribing liquidity ratios, and imposing interest rate ceilings.
The RBI’s control over banks is designed to ensure the stability of the financial system and to protect the interests of depositors. It also helps to promote economic growth by ensuring that banks have the resources they need to lend to businesses and individuals.
Here is a brief explanation of each option:
- Commercial banks are banks that offer a range of financial services to individuals and businesses, such as checking and savings accounts, loans, and credit cards.
- Cooperative banks are banks that are owned and operated by their members. They are typically formed to provide financial services to people who would not otherwise have access to them, such as farmers, small businesses, and low-income households.
- Foreign banks are banks that are incorporated in another country but have branches or subsidiaries in India. They are subject to the same regulations as Indian banks.
- Rural banks are banks that are specifically designed to serve the needs of people living in rural areas. They offer a range of financial services, such as loans, savings accounts, and insurance.