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How can you say that 'Central …

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How can you say that 'Central Bank' of a country is an 'Apex Bank' of its monetary system? Explain it.

Posted by Maryzorama Khenglawt 6 years, 10 months ago

CBSE > Class 12 > Economics

1 answers

Kritika Gaurav 6 years, 10 months ago

Central bank is the apex of all the monetary system.It has monopoly power of issuing new notes.Commercial bank donot have power of issueing new notes.All the currency that are issued are legal tender of money.It brings uniformity and develop confidence among people and there is no chance of political interference.Central bank exercised control over money supply of the country.

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