The Reserve Bank of India (RBI) acts as the "banker's bank" in the sense that

Asked in WBCS Main Paper 5 2022 · Topic: Money & Banking (Reserve Bank of India (RBI): Role, Functions, and Autonomy)

1. The scheduled banks can borrow from the RBI in time of need.
2. The RBI fixes the conditions of cash reserve requirement which the scheduled banks have to follow.
3. The RBI controls the credit operation of the scheduled banks.
4. The RBI controls the banking system through the system of licensing.

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