Category Economics

Introduction The Indian rupee (symbol: ₹; code: INR) is the official currency of India. The issuance of the currency is controlled by the Reserve Bank of India, on the basis of the Reserve Bank of India Act, 1934. In 2010,…

Introduction In 1926, Royal Commission on Indian Currency and Finance popularly known as the Hilton–Young Commission submitted its report and made recommendations to the British Government of India for the creation of a Central Bank. Finally, on April 1, 1935,…

Definition A bank is a financial institution that accepts different forms of deposits, lends them to prospective borrowers, and allows the depositors to withdraw their money from their accounts by cheque is a bank. History of the Banking System The…