The reason for the creation of 12 Reserve banks and the election of directors to each was to

Question

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The creation of 12 Reserve banks and the election of directors to each was meant to decentralize policy-making authority, as each bank would have its own board of directors responsible for making decisions relating to monetary policy and bank regulation within their respective regions. This was intended to ensure that decisions were made with consideration for regional needs and economic conditions, rather than being solely centralized in one location or group.

The Reason for the Creation of 12 Reserve Banks and the Election