The Reserve Bank of India (RBI) is India’s central bank, which controls the issue and supply of the Indian rupee. News RBI is the regulator of the entire Banking in India. RBI plays an important part in the Development Strategy of the Government of India.
RBI regulates commercial banks and non-banking finance companies working in India. It serves as the leader of the banking system and the money market. It regulates money supply and credit in the country also.
The RBI carries out India’s monetary policy and exercises supervision and control over banks and non-banking finance companies in India. RBI was set up in 1935 under the Reserve Bank of India Act,1934 also.
Until the Monetary Policy Committee was established in 2016, it also controlled monetary policy in India. It commenced its operations on 1 April 1935 in accordance with the Reserve Bank of India Act, 1934 also.
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A central bank is a vital financial apex institution of an economy and the key objects of central banks may differ from country to country still they perform activities and functions with the goal of maintaining economic stability and growth of an economy also.
Banknotes under Mahatma Gandhi (New) series with change in the size and design were introduced in November 2016. Under this new series, banknotes in the
denominations of Rs.10, Rs.20, Rs.50, Rs.100, Rs.200 Rs.500 and Rs.2000 have since been released.
The Reserve Bank of India has been sensitive to the challenges faced by the visually challenged in conducting their day to day business with Indian banknotes. This application will aid the visually impaired to identify the denomination of Indian banknotes of Mahatma Gandhi Series and Mahatma Gandhi (New) series by capturing the image of the notes placed in front of rear mobile camera. The application will generate audio and non-sonic notification intimating the currency note denomination to the user.
Disclaimer - This mobile application is made available by the Reserve Bank of India at no cost for the guidance of the visually challenged persons in identifying the denomination of Indian Banknotes.
The Reserve Bank of India nor any of its authorities nor agencies nor officers nor employees nor advisors give any warranty or make any representation, express or implied, as to the completeness or accuracy of the results given by the application, which may vary on account of difference in conditions, including but not limited to, light, soilage condition of the banknotes and interference from nearby objects. Users may exercise discretion and supplement the results of the app by checking the denomination through other ways of note identification.
The Reserve Bank of India does not take any responsibility, and no claim shall lie against the Reserve Bank of India, for the results of the application and for any decisions taken by the users based on the said results. By downloading, accessing or using this application, you signify your assent to this disclaimer. This mobile application does not check or authenticate the genuineness of Indian Banknotes
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