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      Question

      What is the meaning of Bank Rate? 

      A Rate at which RBI purchases or re-discounts Bills of Exchange of commercial Banks Correct Answer Incorrect Answer
      B Rate of interest at which commercial banks discounted bills of their borrowers Correct Answer Incorrect Answer
      C Rate of interest charged by commercial Banks from borrowers Correct Answer Incorrect Answer
      D Both 2 and 3 Correct Answer Incorrect Answer
      E None of these Correct Answer Incorrect Answer

      Solution

      The correct answer is A

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