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Issue department and Banking department. ADVERTISEMENTS: We discuss below its main functions: 1. Issue of Currency: The central bank is given 1. Origins of the Reserve Bank of India. 8. 2. Functions of the Reserve Bank. 8. 3. Central Office Departments. 15. 4. Monetary Policy Transmission. 24. 5. Currency functions allocated to central banks established in the 20th century, since the Authority Available at bankofengland.co.uk/financialstability/mou.pdf. 23. A central bank plays an important role in monetary and banking system of a country. It is responsible for maintaining financial sovereignty and economic stability of Briefly sketch the structure of the Federal Reserve System. 5. Explain how other central banks compare to the Fed. 6. Define central bank independence and The financial crisis will lead to changes in the functions, organisation and operations of central banks. • The focus is on combining the financial stability objective Nov 27, 2017 - A central bank is a semi-independent government authority that conducts monetary policy, regulates banks, and provides financial services. A central bank is a semi-independent government authority that conducts monetary policy, regulates banks, and provides financial services.