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 RBI is "the lender of last resort": It means that in the most worst condition the RBI gives loans to the banks against securities.

Its Functions Are:-

1.   Regulatory body of the banking sector in India & it is the Central Bank of India
2.  Custodian of the foreign exchange reserves of India
3.   Advisor to the Govt of India in the financial matters
4.   Represents India in the International arena such as IMF & World Bank
5.   Banker to the bank: It means that no personal accounts can be opened or operated from the RBI.
6.Controller of the Monetary policy: It controls monetary policy by issuing 2 types of the measures - Quantitative and Qualitative.  
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Thanks @Pravin3103
Welcome ThoughtWriter
good and nic answer
Thanks :)!
The main functions of RBI are :
* issue of bank notes
*banker to government:As banker to the government the Reserve Bank manages the banking needs of the government
*Custodian of Cash Reserves of Commercial Banks
* Custodian of Country’s Foreign CURRENCY Reserves
*Controller of Credit
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sorry if enything goes wrong with my answers
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