Reserve Bank of India on 8 November 2016. Earlier 1000 notes have been discarded by RBI. Reserve Bank of India also works as a central bank where commercial banks are account holders and can deposit money. RBI maintains banking accounts of all scheduled banks. Commercial banks create credit. It is the duty of the RBI to control the credit through the CRR, bank rate and open market operations. As banker's bank, the RBI facilitates the clearing of cheques between the commercial banks and helps the inter-bank transfer of funds. It can grant financial accommodation to schedule banks. It acts as the lender of the
School of Law, University of Mumbai School of Law, University of Mumbai The School of Law, University of Mumbai is a public institution for undergraduate legal education in India. It is established under Department of Law, University of Mumbai and is situated at the University of Mumbai, Thane Sub Campus, Thane, Mumbai. The college is the one of the two law colleges in Mumbai University to offer B.B.A. - LL.B. Course, the other being University of Mumbai Law Academy. School of Law is a University administered Institution. The Campus also houses Institute of Distance & Open Learning and Management courses. Admissions to undergraduate courses happen through