Which of the following are decided by the Reserve Bank of India?begin{enumerate}item Deposit ratesitem Base Rateitem Prime Lending Rateend{enumerate} Select the correct answer using the codes given below

BANKING GENERAL KNOWLEDGE

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

Which of the following are decided by the Reserve Bank of India?

A	Only 1
B	Only 2
C	Only 3
D	2 and 3

Explanation:

Detailed explanation-1: -The Banking Ombudsman Scheme has been formulated by the Reserve Bank of India (RBI) for effective addressing of complaints by bank customers. The RBI controls the monetary supply, monitors economic indicators like the gross domestic product and has to decide the design of the rupee banknotes as well as coins.

Detailed explanation-2: -Deposit Rate Was this answer helpful?

Detailed explanation-3: -The base rate is calculated by the country’s central regulatory body, the Reserve Bank of India. The RBI determines the base rate in order to bring uniform rates to all Indian banks, whether they are nationalized banks or they belong to the private sector.

Detailed explanation-4: -Out of the given options, fixed deposit rate is not decided by RBI.

There is 1 question to complete.