Which of the following is not correct for Reserve Bank of India?
Which of the following is not correct for Reserve Bank of India?
(a) It controls money supply of the country
(b) It lends money to public at a very low interest
(c) It acts as a bank to the Commercial Banks
(d) It acts as a banker to the government
Anurag Pathak Changed status to publish December 27, 2023
Ans – (b)
Explanation:-
RBI is the central bank of India. It is the apex body of the financial institution.
It controls and regulates other financial institutions such as commercial banks.
It is also the bank of the government.
It does not deal with the general public directly.
Thus, it does not lend money to the public at all.
Anurag Pathak Changed status to publish December 27, 2023
