Question
Bank rate isĀ
Solution
Bank rate , also referred to as theĀ discount rate Ā in American English, is theĀ rate of interestĀ which aĀ central bankĀ charges on the loans and advances to aĀ commercial bank. The bank rate is known by a number of different terms depending on the country and has changed over time in some countries as the mechanism used to manage the rate have changed.
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