Which of the following statements are correct? 1. Reserve Bank of India and State Bank of India are…
RBI and SBI are statutory bodies, RBI is a regulatory body, and SBI conducts commercial banking; but SBI only came into being in 1955, so it did not exist at independence.
Choose your answer
Which of the following statements are correct?
1. Reserve Bank of India and State Bank of India are statutory organisations
2. Both R.B.I. and S.B.I existed at the time of independence
3. R.B.I. is a regulatory body
4. S.B.I. is engaged in commercial operations.
Answer and explanation
Correct answer C
RBI and SBI are statutory bodies, RBI is a regulatory body, and SBI conducts commercial banking; but SBI only came into being in 1955, so it did not exist at independence.
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