section or function of the Reserve Bank of India Act, 1934

 section or function of the Reserve Bank of India Act, 1934

Monetary Policy (Section 45Z) – Role of the RBI in managing inflation and setting interest rates.

Power to Regulate Banks (Sections 35A, 35B) – The RBI's regulatory powers over commercial and co-operative banks.

Issuance of Currency (Section 22) – The RBI’s role in issuing currency notes and managing currency supply.

Control Over Foreign Exchange (Sections 6, 7) – How the RBI manages foreign exchange and currency stability.

Regulation of Payment and Settlement Systems (Section 35A) – RBI's oversight on payment systems and clearinghouses.

Monetary Policy Committee (Section 45ZB) – The composition and functions of the MPC.