The correct answer is (b), Reserve Bank of India.
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 headquartered in Mumbai, Maharashtra.
The RBI is the banker to the government of India and the banker’s bank. It is also the issuer of the Indian rupee. The RBI is responsible for formulating and implementing monetary policy, regulating the financial system, and promoting financial stability.
The RBI is a statutory body and is governed by a central board of directors. The central board is headed by the governor of the RBI, who is appointed by the government of India.
The RBI has a number of functions, including:
- Issuing currency
- Maintaining price stability
- Regulating the financial system
- Promoting financial stability
- Supervising banks and other financial institutions
- Conducting monetary policy
- Managing the country’s foreign exchange reserves
- Providing financial services to the government
- Promoting financial inclusion
The RBI is an important institution in the Indian economy. It plays a key role in maintaining financial stability and promoting economic growth.
The other options are:
(a) Bank of Baroda is a public sector bank in India. It was founded in 1908 and is headquartered in Vadodara, Gujarat.
(c) State Bank of India is a state-owned banking and financial services company in India. It is the largest commercial bank in India and the largest employer in the country.
(d) Punjab National Bank is a public sector bank in India. It was founded in 1895 and is headquartered in New Delhi.