What is the role of the Reserve Bank of India (RBI) in economic planning?

What is the role of the Reserve Bank of India (RBI) in economic planning?

Step 1: Understand that the Reserve Bank of India (RBI) is the central bank of India.
Step 2: Know that the RBI helps manage the country's economy.
Step 3: Learn that one of the RBI's roles is to regulate foreign exchange, which means controlling how money is exchanged with other countries.
Step 4: Recognize that the RBI sets interest rates, which affects how much it costs to borrow money and how much people earn on savings.
Step 5: Understand that the RBI issues currency, meaning it is responsible for printing and distributing money in India.
Step 6: Realize that by doing these things, the RBI helps ensure economic stability and growth in the country.

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