Statement 1: Central Bank can be owned and governed by the government or the private sector
Statement 1: Central Bank can be owned and governed by the government or the private sector.
Statement 2: Central Bank operates in public interest without profit motive.
Alternatives:
(a) Both the Statements are true
(b) Both the Statements are false
(c) Statement 1 is true and Statement 2 is false
(d) Statement 2 is true and Statement 1 is false
Anurag Pathak Changed status to publish January 6, 2024
Ans – (d)
Explanation:-
Statement 1 is false as the central bank is fully owned by the government of India. The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. Since nationalisation in 1949, the Reserve Bank has been fully owned by the Government of India.
Statement 2 is true as the central bank operates in the public interest without profit motive.
Anurag Pathak Changed status to publish January 6, 2024
