The central bank performs the following functions:
Currency authority: The central bank has the right to issue the currency, also known as the bank of issue
Banker to the government: It performs all the functions of the government including granting land, managing public debt, advising the government, and agent to the government.
Banker's bank: It acts as custodian of cash reserve, provides centralized clearing, and is the lender of last resort.
Supervisor: It also carries periodic inspection of banks.