2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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13.24 %
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11.42 %
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12.31 %
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14.21 %
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Detailed explanation-1: -The Reserve Bank of India should increase the repo rate. An increase in repo rate increases the costs of borrowing from the central bank. It forces the commercial banks to increase their lending rates, which discourages borrowers from taking loans.
Detailed explanation-2: -The Reserve Bank of India Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank, which commenced operations on April 1, 1935. * To operate the credit and currency system of the country to its advantage.
Detailed explanation-3: -The Reserve Bank of India (RBI) is the central bank of India that formulates, implements and monitors the monetary policy. It was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.