Which of the following is NOT a primary function of the Reserve Bank of India (RBI)?
- Issuer of currency notes (except one rupee notes)
- Banker to the Government (both Central and State)
- Regulator of the Indian stock market
- Banker's bank and lender of last resort
Answer: C. Regulator of the Indian stock market
The Reserve Bank of India (RBI) is the central bank of India, responsible for monetary policy, issuing currency (except one rupee notes and coins), acting as the banker to the government, and supervising commercial banks. However, the regulation of the Indian stock market falls under the purview of the Securities and Exchange Board of India (SEBI), which protects the interests of investors in securities and promotes the development of the securities market.