Central Bank – A Vital Organization of an Economy

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