Banking access to all villages with 2,000 people: RBI

"It is a challenge before the RBI to maintain growth and control inflation," he said.
He explained in detail about several functions of the RBI - from printing and distributing currency to acting as monetary authority, regulatory and supervisory body for banks.

The RBI chief also sought to correct people's 'wrong perception' regarding RBI as a regulatory body for interest rates, saying RBI doesn't regulate interest rates on borrowing and lending except for NRI deposits and savings bank accounts.

He also explained how RBI acts as an 'external sector gatekeeper' by managing current account deficit.

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