Question
Consider the following statements about the Reserve
Bank of India? I. It does not accept deposits from the general public II. Prime lending rate is not decided by the RBI. III. RBI decides the following rates; Bank rate, repo rate, reverse repo rate & cash reserve ratio. Which of the following statements is/are correct?Solution
RBI does notĀ perform the function of accepting deposits from the general public. Prime lending rate is not decided by the RBI. RBI decides the following rates; Bank rate, repo rate, reverse repo rate & cash reserve ratio. Ā
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