Which activity falls outside the Reserve Bank of India's ordinary central banking functions?
Question and options
Which activity falls outside the Reserve Bank of India's ordinary central banking functions?
Issuing banknotes
Acting as banker to the government
Opening retail savings accounts for the general public
Holding required cash reserves of scheduled banks
Answer and explanation
Correct answer: C - Opening retail savings accounts for the general public
The RBI issues banknotes, performs government banking functions and holds required cash reserves of scheduled banks. Opening retail savings accounts for the public is a service offered by commercial banks.
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