The conversation between human and AI assistant.
Does India follow the Fractional reserve banking system? Also, Just like the US federal reserve, does the RBI also "loan" out the money printed to the Indian government?
Oh, what are those differences?
Well, one major difference is that the RBI operates with a different legal framework and has its own Act. Additionally, RBI is more focused on controlling inflation and maintaining economic stability rather than maximizing employment, which is a priority for the Federal Reserve.