BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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State Bank of India
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Reserve Bank of India
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NABARD
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Nationalised Banks
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Detailed explanation-1: -As of now, such agreements exist between RBI and all the State Governments except Government of Sikkim. Thus, the legal provisions vest Reserve Bank of India with both the right and obligation to function as banker to the government. 2.
Detailed explanation-2: -As a banker to the Government, the Reserve Bank receives and pays money on behalf of the various Government departments. The Reserve Bank also undertakes to float loans and manage them on behalf of the Governments.
Detailed explanation-3: -The Central Bank functions as a commercial bank for the government. As banker to the government, the Central Bank provides all those services and facilities to the government which the public gets from the ordinary banks.
Detailed explanation-4: -The Reserve Bank of India (RBI) is India’s central bank, also known as the banker’s bank. The RBI controls the monetary and other banking policies of the Indian government.
Detailed explanation-5: -Detailed Solution. In India, Reserve Bank Of India or RBI is known as the banker’s bank.