Central Banks are crucial public institutions that play a pivotal role in the economic stability of any nation. Understanding the names and functions of these institutions is vital for anyone preparing for Static GK sections in competitive exams like RRB NTPC, SSC, and State-level exams. This blog post provides a comprehensive list of Countries and Their Central Banks, equipping you with valuable knowledge for your exam preparations.
What is a Central Bank?
A central bank is a government-run institution that oversees the monetary system and policy of a nation or group of nations. Essentially, it manages the country’s money supply and sets interest rates.
Here’s a breakdown of its key functions:
- Monetary Policy: Central banks implement monetary policy to control inflation, promote economic growth, and maintain full employment. This involves adjusting interest rates, managing the money supply, and influencing the availability of credit.
- Bank Regulation: They regulate commercial banks to ensure financial stability and protect consumers. This includes setting reserve requirements, conducting bank examinations, and supervising financial institutions.
- Lender of Last Resort: In times of financial crisis, central banks act as lenders of last resort, providing emergency loans to commercial banks to prevent bank failures and maintain liquidity in the financial system.
- Currency Issuance: They have the exclusive right to issue the national currency and manage its exchange rate.
- Government Banking: Central banks often serve as the government’s bank, managing its accounts and providing financial services.
In essence, a central bank plays a crucial role in maintaining a healthy and stable economy.
List of Countries and Their Central Banks
| SL. NO. | Country | Central Bank |
|---|---|---|
| 1 | India | Reserve Bank of India |
| 2 | Austria | European Central Bank |
| 3 | USA | Federal Reserve |
| 4 | Australia | Reserve Bank of Australia |
| 5 | UK | Bank of England |
| 6 | Argentina | Central Bank of Argentina |
| 7 | Switzerland | Swiss National Bank |
| 8 | Afghanistan | Bank of Afghanistan |
| 9 | South Africa | South African Reserve Bank |
| 10 | Iran | Central Bank of the Rep. of Iran |
| 11 | Bangladesh | Central Bank of Bangladesh |
| 12 | Indonesia | Bank Indonesia |
| 13 | Azerbaijan | Central Bank of the Rep. of Azerbaijan |
| 14 | Iceland | Central Bank of Iceland |
| 15 | Hungary | Central Bank of Hungary |
| 16 | Guinea | Central Bank of the Rep. of Guinea |
| 17 | Greece | European Central Bank |
| 18 | Pakistan | State Bank of Pakistan |
| 19 | Vietnam | State Bank of Vietnam |
| 20 | Uzbekistan | Central Bank of the Rep. of Uzbekistan |
| 21 | UAE | Central Bank of United Arab Emirates |
| 22 | Turkey | Central Bank of the Republic of Turkey |
| 23 | Thailand | Bank of Thailand |
| 24 | Tajikistan | National Bank of Tajikistan |
| 25 | Taiwan | Central Bank of the Rep. of China |
| 26 | Canada | Bank of Canada |
| 27 | Sweden | The Riksbank |
| 28 | Sri Lanka | Central Bank of Sri Lanka |
| 29 | China | People’s Bank of China |
| 30 | Chile | Central Bank of Chile |
| 31 | Chad | Commercial Bank Chad |
| 32 | Cambodia | National Bank of Cambodia |
| 33 | Brazil | Central Bank of Brazil |
| 34 | Bolivia | Central Bank of Bolivia |
| 35 | Bhutan | Royal Monetary Authority of Bhutan |
| 36 | Bermuda | Bermuda Monetary Authority |
| 37 | Spain | European Central Bank |
| 38 | South Korea | Bank of Korea |
| 39 | Slovenia | European Central Bank |
| 40 | Singapore | Monetary Authority of Singapore |
| 41 | Seychelles | Central Bank of Seychelles |
| 42 | Saudi Arabia | Saudi Arabian Monetary Authority |
| 43 | Russia | Bank of Russia |
| 44 | Qatar | Qatar Central Bank |
| 45 | Philippines | BangkoSentral ng Pilipinas |
| 46 | Peru | Central Reserve Bank of Peru |
| 47 | Papua New Guinea | Bank of Papua New Guinea |
| 48 | New Zealand | Reserve Bank of NewZealand |
| 49 | Netherlands | European Central Bank |
| 50 | Myanmar | Central Bank of Myanmar |
| 51 | Korea | Republic Bank of Korea |
| 52 | Kenya | Central Bank of Kenya |
| 53 | Kazakhstan | National Bank of Kazakhstan |
| 54 | Jordan | Central Bank of Jordan |
| 55 | Japan | Bank of Japan |
| 56 | Italy | European Central Bank |
| 57 | Ireland | European Central Bank |
| 58 | Iraq | Central Bank of Iraq |
| 59 | Morocco | Bank of Morocco |
| 60 | Mongolia | Bank of Mongolia |
| 61 | Mexico | Bank of Mexico |
| 62 | Mauritius | Central Bank of Mauritius |
| 63 | Mali | Central Bank of West African States |
| 64 | Maldives | Maldives Monetary Authority |
| 65 | Malaysia | Bank Negara Malaysia |
| 66 | Libya | Central Bank of Libya |
| 67 | Ghana | Bank of Ghana |
| 68 | Germany | European Central Bank |
| 69 | Georgia | National Bank of Georgia |
| 70 | France | European Central Bank |
| 71 | Finland | European Central Bank |
| 72 | Fiji | Reserve Bank of Fiji |
| 73 | Egypt | Central Bank of Egypt |
| 74 | Denmark | National Bank of Denmark |
| 75 | Cyprus | European Central Bank |
FAQs
The Reserve Bank of India (RBI) is the central bank of India.
The central bank of the USA is known as the Federal Reserve.
Central Banks are major public institutions responsible for a country’s monetary policy.
Sanjay Malhotra is the Current and 26th Governor of the Reserve Bank of India (RBI).
