my banking

FUNCTIONS
Some of the functions of BFS include: -
· Restructuring of the system of Bank Inspections
· Introduction of off-site surveillance
· Strengthening of the role of statutory Auditors and
· Strengthening of the internal defenses of supervised institutions
So far legal aspect is concerned the most important for RBI is Banking Act. Governing Banking operations like: -
· Formulates, Implements and monitors the monetary policy.
· Maintains price stability and ensuring adequate flow of credit to productive sectors.
· Prescribes broad parameters of banking operations within which the country’s banking and financial system functions
· Maintains public confidence in the system, protect depositors interest and provide cost effective banking services to the public
RBI ALSO PERFORMS CERTAIN REALTED FUNCTIONS.

It is a Banker to the Government, Performs Merchant Banking functions for the central and the state governments; also acts as their Banker.
It is also a Banker to Banks.
Maintains Banking accounts of all schedule Banks.
There is long history of banking Industry but the main objective of this book is to acquaint the common man and the younger generation with banking norms in their early childhood so that they are equipped well to deal efficiently with their banking operations whenever they are required to obtain banking services.