A central bank is an apex institution of a country that controls and regulates the monetary and financial system of the country. Following are a few definitions of central bank:
According to M.H. De Kock, “A bank which constitutes the apex of the monetary and banking structure of the country is called a central bank.”
According to A.C.L. De, “A central bank is that which helps to control and stabilize the monetary and banking system.”
According to Samuelson, “A central bank is a banker’s bank and its responsibility is to control monetary base and high power money.”
According to Hawtrey, “Central bank is the Banker’s bank, since it is the lender of last resort to the banks”.
