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Central Banking: Chapter-2

Central banks are the financial institutions that oversee monetary policy for a nation or group of nations. They are responsible for issuing currency, regulating credit and banking systems, managing foreign exchange reserves, and acting as a lender of last resort. Central banks have objectives like maintaining currency stability, low inflation, and full employment. The chapter discusses the definition, objectives, importance, functions, and history of central banks as well as providing a list of central banks for different countries around the world.

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Nahidul Islam IU
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123 views2 pages

Central Banking: Chapter-2

Central banks are the financial institutions that oversee monetary policy for a nation or group of nations. They are responsible for issuing currency, regulating credit and banking systems, managing foreign exchange reserves, and acting as a lender of last resort. Central banks have objectives like maintaining currency stability, low inflation, and full employment. The chapter discusses the definition, objectives, importance, functions, and history of central banks as well as providing a list of central banks for different countries around the world.

Uploaded by

Nahidul Islam IU
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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CHAPTER-2

Central Banking
Chapter Summary:
2.1 Definition
2.2 Objectives
2.3 Importance of Central Bank
2.4 Functions of Central Bank
2.5 Central Banks activity as a banker of state
2.6 Central Banks activity as a banker of other bank
2.7 List of all Banks in Bangladesh
2.8 History, Origin and current situation of some central bank

Central bank
A central bank is an institution responsible for determining the monetary policy of a nation or
group of nations.
The entity responsible for overseeing the monetary system for a nation (or group of nations).
Central banks have a wide range of responsibilities, from overseeing monetary policy to
implementing specific goals such as currency stability, low inflation and full employment.
Central banks also generally issue currency, function as the bank of the government, regulate the
credit system, oversee commercial banks, manage exchange reserves and act as a lender of last
resort.
According to Hawtrey a central bank is that which the lender of the last resort is.
According to A.C.L. Day, a central bank is to help control and stabilize the monetary and
banking system.
Central Bank is the bank of a country a nation. Its main function is to issue currency known as
'Bank Notes'. This bank acts as the leader of the banking system and money market of the
country by regulating money and credit. These banks are the bankers to the government, they are
bankers' banks and the ultimate custodian of a nations foreign exchange reserves.
The aim of the Central Bank is not to earn profit, but to maintain price stability and to strive for
economic development with all-round growth of the country There is now hardly any country
which does not have a Central Bank of its own. It acts as a great engine of growth of a State.
In India, the RBI was established in 1935 and this Bank has since been functioning as the Central
Bank of the country (this is not to be confused with 'Central Bank of India', which is only a
commercial bank).
The Central Bank of different countries is known by different names like Reserve Bank in India,
Bank of England in U.K., Federal Reserve System in U.S.A., etc.
Name of central bank of different countries
Afghanistan

Bank of Afghanistan
Bank of Albania

Albania
Bank of Angola
Angola
Banco Central de la Republica Argentina
Argentina
Central Bank of Armenia
Armenia

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