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Explanation. The main function of the Reserve Bank of India (RBI) is to regulate and supervise the Indian banking system. It acts as the central bank of the country and formulates monetary guidelines and policies that all banks operating in India must follow.

At 2022 Union budget of India, Nirmala Sitharaman from the Ministry of Finance announced the roll out of the Digital Rupee starting from 2023. As per the International Monetary Fund, the Digital Rupee can help in currency management and cross border payments in view of high volume of inbound remittance.

The RBI bulletin is a monthly publication written by the central bank's staff, providing insights into key developments in domestic and global economies.

Note-issue or issue of currency notes is one of the premier functions of central banks including the RBI. Under note-issue, the RBI issues currency notes in a targeted manner to ensure adequate supply of currency as well as to maintain price stability.

U.S currency is produced by the Bureau of Engraving and Printing and U.S. coins are produced by the U.S. Mint. Both organizations are bureaus of the U.S. Department of the Treasury.

In many countries, the issuance of private paper currencies and/or the minting of metal coins intended to be used as currency may even be a criminal act such as in the United States (18 U.S. Code § 486).

U.S currency is produced by the Bureau of Engraving and Printing and U.S. coins are produced by the U.S. Mint. Both organizations are bureaus of the U.S. Department of the Treasury.

The Office of the Comptroller of the Currency charters, regulates, and supervises all national banks. It also supervises the federal branches and agencies of foreign banks.

At present, only the government backs banknotes. Although in earlier times commercial banks could issue banknotes, the Federal Reserve is now the only bank in the United States that can create banknotes and mint money.