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
Mobile banking mobile phone number. In Nov 2017 the State Bank of India launched an integrated banking platform in India called YONO offering conventional banking functions but also payment services for things such as online shopping, travel planning, taxi booking or online education. Following is a list showing the share of people using mobile banking apps during the last three months in selected countries worldwide in 2014. The list is based on a survey conducted by statista.com including 82,914 respondents. Mobile banking Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial