csrgk today monthly magazine Published this articles page no 522
The Reserve Bank has well defined obligations and provides several banking services to the governments. As a banker to the Government the Reserve Bank receives and pays money on behalf of the various Government departments. The Reserve Bank also undertakes to float loans and manage them on behalf of the Governments. It provides Ways and Means Advances - a short-term interest bearing advance - to the Governments to meet temporary mismatches in their receipts and payments. Besides like a portfolio manager it also arranges for investments of surplus cash balances of the Governments. The Reserve Bank acts as adviser to Government whenever called upon to do so on monetary and banking related matters.csrgk today monthly magazine
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