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    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?
    A I Correct Answer Incorrect Answer
    B II Correct Answer Incorrect Answer
    C III Correct Answer Incorrect Answer
    D All are correct Correct Answer Incorrect Answer
    E None of the statements are correct Correct Answer Incorrect Answer

    Solution

    RBI does not  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.  

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