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
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.
Related Questions
Know More about
Staff Selection Commission Multi Tasking ...
Application | Cutoff | Selection Process | Preparation Tips | Eligibility | Exam Pattern | Admit Card
Get Updates Brochure
Your Staff Selection Commission Multi Tasking Staff Exam brochure has been successfully mailed to your registered email id “”.
