Under Section 49 of the Reserve Bank of India Act, 1934, what is the standard rate at which the RBI is…
Bank rate is the statutory term for the RBI's standard rate for buying or rediscounting eligible bills of exchange or commercial paper. The term is more specific than the…
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Under Section 49 of the Reserve Bank of India Act, 1934, what is the standard rate at which the RBI is prepared to buy or rediscount eligible bills of exchange or commercial paper called?
Answer and explanation
Correct answer B
Bank rate is the statutory term for the RBI's standard rate for buying or rediscounting eligible bills of exchange or commercial paper. The term is more specific than the generic expression interest rate.
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RPSC School Lecturer (School Education)