Q.Mention the functions of Agriculture Credit department.

The Central Bank is the monetary authority of a country, so the answer is (b).

In the banking topic of the Tamil Nadu HSC Commerce syllabus, the central bank (in India, the Reserve Bank of India) is the apex institution of the banking and monetary system. As the monetary authority it:

• Issues currency notes
• Controls the money supply and credit in the economy
• Formulates and implements monetary policy (bank rate, CRR, SLR, repo rate, etc.)
• Acts as banker to the government and banker's bank …

The RBI headquarters is in Mumbai, so the answer is (a).

In the banking topic of the Tamil Nadu HSC Commerce syllabus, the Reserve Bank of India (RBI) is India's central bank, established on 1 April 1935 under the RBI Act, 1934. Its central office was originally in Kolkata but was permanently shifted to Mumbai (then Bombay) in 1937.

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NABARD was started in July 1982 — option (a).

In the Tamil Nadu HSC Class-12 Economics syllabus (Banking), NABARD — the National Bank for Agriculture and Rural Development — is the apex development bank for agricultural and rural credit in India. It was established in July 1982 on the recom …

The central bank is the monetary authority of any country.

The central bank (the Reserve Bank of India in our case) is the apex institution of the banking and monetary system. Its core role is to act as the monetary authority: it has the sole right to issue currency notes, it regulates the total supply of money and credit through instruments like the bank rate, CRR, SLR and open-market operations, and it frames and executes the country's monetary policy to control inflation and support growth.

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The Agricultural Refinance Development Corporation began functioning on 1 July 1963, so option (c) is correct.

In the banking topic of the Tamil Nadu HSC Commerce syllabus, agricultural credit institutions are studied as part of the financial system supported by the Reserve Bank of India. The Agricultural Refinance Corporation (later the Agricultural Refinance and Development Corporation, ARDC) was established to provide medium- and long- …

The RBI's head office is in Mumbai, so option (a) is correct.

The Reserve Bank of India was established on 1 April 1935. Its central office was initially in Kolkata but was permanently moved to Mumbai in 1937, where it remains. From Mumbai the RBI performs its functions as the note-issuing authority, banke …

The RBI is the banker to the Government of India, so option (c) is correct.

Among its central-banking functions, the Reserve Bank of India acts as the banker, agent and adviser to the government. It keeps the government's cash balances, receives and makes payments on its behalf, manages public debt and advises on monetary and financial matters. Commercial …

The RBI headquarters is in Mumbai.

The Reserve Bank of India was established on 1 April 1935 under the RBI Act, 1934. Its central office was initially in Kolkata but was permanently moved to Mumbai in 1937, where it has remained ever since. As the central bank, the RBI issu …

NABARD was established in July 1982.

NABARD (National Bank for Agriculture and Rural Development) was set up on 12 July 1982 on the recommendation of the Shivaraman Committee, by an Act of Parliament. It is the apex institution that provides and regulates credit for agriculture, small-scale industries, cottage and vil …