Which one of the following is not the function of the Reserve Bank of India?
Accepting deposits and advancing loans directly to the general public is a commercial banking function performed by scheduled commercial banks, not by the central bank. The…
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Which one of the following is not the function of the Reserve Bank of India?
Answer and explanation
Correct answer B
Accepting deposits and advancing loans directly to the general public is a commercial banking function performed by scheduled commercial banks, not by the central bank. The Reserve Bank of India functions as the sole note-issuing authority, controller of credit, banker to the government, and custodian of commercial banks' cash reserves.
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UGC NET Commerce