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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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