Central Bank – A Vital Organization of an Economy

Lawbright eJournal, March 2016

5 Pages Posted: 7 Aug 2015 Last revised: 16 Nov 2016

See all articles by Yogesh Kolekar

Yogesh Kolekar

Ismailsaheb Mulla Law College, Satara

Date Written: August 6, 2015

Abstract

A Central Bank is an independent apex monetary authority which regulates banks, and provides important financial services like storing of foreign exchange reserves, control of inflation, monetary policy report. A Central Bank is known by different names in different countries. The functions of a Central Bank vary from country to country and are autonomous or quasi autonomous body and perform or through another agency vital monetary functions in the country. A central bank is a vital financial apex institution of an economy and the key objects of central banks may differ from country to country still they perform activities and functions with the goal of maintaining economic stability and growth of an economy.

Keywords: Central Bank, Apex bank, The Federal Reserve, Bank of England, Monetary Authority of Singapore, Central Bank of U.A.E , Bank of Canada, Reserve Bank of India

Suggested Citation

Kolekar, Yogesh, Central Bank – A Vital Organization of an Economy (August 6, 2015). Lawbright eJournal, March 2016, Available at SSRN: https://ssrn.com/abstract=2640638 or http://dx.doi.org/10.2139/ssrn.2640638

Yogesh Kolekar (Contact Author)

Ismailsaheb Mulla Law College, Satara ( email )

Satara
415001
India

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