General Knowledge - Indian Economy - Discussion

The Central Bank of India and The Reserve Bank of India are both same right?

The Reserve Bank of India (RBI) is the central banking institution of India responsible for regulating the monetary policy and controlling the supply of money in the country. It acts as a banker to the government and other commercial banks, manages foreign exchange reserves, and supervises the financial system.

On the other hand, the Central Bank of India (CBI) is a commercial bank that provides various banking services to its customers, such as loans, deposits, and other financial products. It is one of the oldest and largest commercial banks in India, with a wide network of branches and ATMs across the country.

In summary, the RBI is the central bank of India responsible for regulating the monetary policy and controlling the supply of money, while the CBI is a commercial bank that provides various banking services to its customers.

So, RBI is the central bank of India while CBI can't be the RBI.