Which of the following is not a function of Reserve Bank of India?

The correct answer is  Creation of Credit.Key Points

• The functions of RBI includes:
  • ​Credit control :RBI controls the credit created by commercial banks in India, using quantitative and qualitative methods.
  • Monetary Policy : Under the Reserve Bank of India, Act,1934 RBI is entrusted with the responsibility of conducting monetary policy.
  • Issue of Currency Notes : The Reserve Bank is the nation's sole note issuing authority.

Additional Information

• ​Commercial banks perform the function of credit creation in an economy. 
• Therefore, the money that is created by commercial banks is known as credit money.
• This is achieved by the commercial banks in the form of purchasing securities and providing loans.

Thus, Creation of Credit is not a function of Reserve Bank of India.