The Central Bank of India is one of the most oldest Bank in India. It was established in the year 1911 and was the first commercial bank of India that was owned by Indians.
The objectives of the Central Bank of India are as follows:
- To help ensure the monetary stability of the country.
- To assist in regulating the financial system of the country,
- To formulate, implement and monitor the monetary policy.
- To maintain the liquidity in the country.
- To ensure adequate flow of credits.
- Prescribes parameters for banking in the country.
- Maintain public confidence in the system.
- To manage the foreign exchange Management Act.
- To facilitate external trade.
- Issue and exchange currency.
- Maintain supply of currency.
- Own and operate the depository and exchange for government bonds.
- Banker to the government