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Question : The bank rate in the Indian economy is determined by the ________.

Option 1: State Bank of India

Option 2: Reserve Bank of India

Option 3: Finance Ministry of India

Option 4: Securities and Exchange Board of India


Team Careers360 11th Jan, 2024
Answer (1)
Team Careers360 22nd Jan, 2024

Correct Answer: Reserve Bank of India


Solution : The correct answer is the Reserve Bank of India .

The bank rate in the Indian economy is determined by the banker’s bank of the country, which is the Reserve Bank of India. It is the interest charged by the Reserve Bank of India when it lends funds to the domestic banks. Whenever a bank faces a shortage of funds, it can borrow funds from the RBI.

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