The Reserve Bank of India has directed all the banks to ensure that the names of their customers, individuals or corporates, do not appear in any list published by the Security Council Committee. This act/directive of the RBI is to ensure which of the following?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	To ensure that the bank loans/advances taken by the individuals/organizations are used only in those activities for which they are taken.
B	To ensure that money deposited in the bank has not come from unknown and unauthorized sources
C	To ensure that no one visits a foreign nation for any illegal activity by purchasing foreign currency from a bank
D	To ensure that Indians do not go to a nation where they are being targeted for racial discrimination

Explanation:

Detailed explanation-1: -Therefore, accepting deposits and advancing loans to the public is not the function of the Reserve Bank of India.

Detailed explanation-2: -Issuing of coins is not a function of the Central Bank.

Detailed explanation-3: -(i)It ensures safety to the bank deposits of people. (ii)It helps in collection of economic data all over the country. (iii)It contains corrupt practices from creeping within banks. (iv)Information forwarded by banks to RBI helps Ministry of Finance in drafting and presentation of National Budget every year.

Detailed explanation-4: -The Reserve Bank of India was established on 1st April 1935. It is the central bank of India that controls all the banks in the country. Hence, Option 3 is correct.

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