BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Canada bank
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Corporation bank
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State bank of India
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Reserve Bank of India
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Detailed explanation-1: -Why is Reserve Bank of India called ‘ Mother of Banks ‘?
Detailed explanation-2: -The Reserve Bank of India is the central bank of the country.
Detailed explanation-3: -Answer: RBI called the “mother of all banks” discussed below: The RBI controls the flow of currency within the economy.
Detailed explanation-4: -The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.
Detailed explanation-5: -In India, Reserve Bank Of India or RBI is known as the banker’s bank. It is so called because it acts as a bank for all the commercial banks in India.