Which of the following is NOT a function of the Reserve Bank of India (RB

Q: Answer-Which of the following is NOT a function of the Reserve Bank of India (RBI)?

The imposition of direct taxes is not within the RBIs purview, as this responsibility belongs to the Central Board of Direct Taxes CBDT. The RBIs functions are centered around monetary policy, banking regulation, and currency management, among others.

A Imposing direct taxes Correct Incorrect

B Maintains banking accounts of all scheduled banks Correct Incorrect

C Manages the Foreign Exchange Management Act, 1999 Correct Incorrect

D Issues, exchanges, and destroys currency notes Correct Incorrect

Detailed Solution

The imposition of direct taxes is not within the RBI's purview, as this responsibility belongs to the Central Board of Direct Taxes (CBDT). The RBI's functions are centered around monetary policy, banking regulation, and currency management, among others.

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Which of the following is NOT a function of the Reserve Bank of India (RB

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