India’s central bank. The Reserve Bank of India was established on April 1‚ 1935 in accordance with the provisions of the Reserve Bank of India Act‚ 1934. RBI acts as a banker to the Government and Banks. The Central Bank maintains record of Government revenue and expenditure under various heads. It maintains deposit accounts of all other banks and advances money to other banks‚ when needed. Another important function of the Central Bank is the issuance of currency notes‚ regulating their circulation
Premium Bank Fractional-reserve banking
What is RBI’s Monetary Policy? .The Reserve Bank of India will announce its Monetary and Credit Policy for the first half of the financial year 2002-03 on April 29. Even as RBI Governor Bimal Jalan puts the finishing touches to the document‚ have you ever considered what is the significance of the biannual exercise? In a world of policies in the financial sector‚ nothing could get as alien as the Monetary Policy. Terms like M3‚ CRR‚ SLR‚ PLR and OMO would make you think that the typical IT-bug
Premium Monetary policy Central bank Money supply
Daniel Duranceau Econ 1 Wegman 29 September 2012 The Federal Reserve System of the United States There are seven members of the Board of Governors of the Federal Reserve. Dr. Ben S. Bernanke (chairman) was born in December 1953 (age 59) in Augusta‚ Georgia‚ and grew up in Dillon‚ South Carolina. He received a B.A. in economics in 1975 from Harvard University (summa cum laude) and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology. Ben S. Bernanke began a second term
Premium Bill Clinton Federal Reserve System Barack Obama
What is the Federal Reserve? The Federal Reserve was created in 1913 in the wake of numerous financial panics that occurred in the United States. It was founded by Congress in order to provide the nation with a safer‚ more flexible‚ and more stable monetary and financial system. Although the Federal Reserve is the most vital asset in maintaining the stability of the U.S. economy‚ not many Americans are familiar with the history and responsibilities of the “Fed”. The Federal Reserve has four main responsibilities
Premium Federal Reserve System Central bank Monetary policy
Umer Faiz Siddiqui Class: BBA-IV DHA Suffa University Question 1: Write a note on The Federal Reserve System. The Federal Reserve System (also known as the Federal Reserve‚ and informally as the Fed)‚ is the central banking system of the United States. It was created on December 23‚ 1913‚ with the enactment of the Federal Reserve Act. Over time‚ the roles and responsibilities of the Federal Reserve System have expanded‚ and its structure has evolved. Events such as the Great Depression were major
Premium Federal Reserve System Central bank Monetary policy
mrunal.org http://mrunal.org/2012/08/econ-crr.html [Economy] Cash Reserve Ratio (CRR) Controversy between SBI & RBI: meaning‚ implication on Economy Explained 1. What is CRR? 2. What is Scheduled Commercial Bank? 3. Examples of Scheduled Commercial Banks 1. Case # 1: High CRR and SLR 2. Case # 2: Low CRR and SLR 4. Repo Rate 5. Reverse Repo Rate 6. Bank Rate 7. What is the need of all these CRR‚SLR‚Repo rates? 8. What is the problem with CRR? 9. How much CRR deposit does RBI have? 10. What
Premium Inflation Monetary policy Fractional-reserve banking
Wilson that established the Federal Reserve Bank and made the Federal Reserve System a crucial aspect of the United States’ government. The Federal Reserve System is contemplated to be an independent central bank; however‚ is sometimes referred to as "independent within the government” and is considered to be the central bank of United States. Ever since 1913‚ the United States of America has relied on its Federal Reserve System to control the country’s currency and interest rates. The existence of
Premium Great Depression United States Central bank
dollar weakens‚ other currencies necessarily increase. The euro is now trading above $1.48 to the dollar‚ a record high. And the Japanese yen is stronger than 109 to the dollar‚ a two-year high. All currency movements proximately reflect differentials in short-term interest rates. The weakness in the dollar over the last two months was caused by the Federal Reserve’s interest-rate cuts in September and October. Underlying economic fundamentals in each respective currency zone also affect exchange
Premium United States dollar Currency Euro
conclusions? 3. Discuss the Institutional structure of the US Federal Reserve‚ European Central Bank and Bank of England and that of the central bank of your home country. What are the similarities in their rate setting institutions‚ regulatory responsibilities (if any) and government debt management responsibilities (if any)? Which do you consider the best model and why? 4. What have been the costs and benefits of Hong Kong’s currency board system since 1983? Would it be wise to link the Hong Kong dollar
Premium Central bank Monetary policy Federal Reserve System
weathered the many growing pains associated with a new government and currency‚ instituting regulations and a centralized bank to examine the economy‚ and implement policies intended to offset factors negatively affecting the general financial health of the country. Now‚ as the United States moves towards a globally interdependent marketplace‚ the stakes are much higher than they were when Congress established the Federal Reserve in the early 1900’s. A country’s debt can now become the world’s debt
Premium Bank Central bank Subprime mortgage crisis