ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Finance Ministry
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Head Office of each Bank
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Reserve Bank of India
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Cooperative Societies
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Detailed explanation-1: -Answer: The Reserve Bank of India supervises the functioning of formal sources of loans.
Detailed explanation-2: -The Reserve Bank of India is the central bank of India and controls all banking activities. It has the sole authority to print and circulate money in India. It regulates the banking functions of all the banks in India and plays an important role in foreign exchange. Q.
Detailed explanation-3: -The correct answer is the Reserve bank of India. Reserve Bank of India supervises the functioning of the formal sources of loans.
Detailed explanation-4: -It avoids the bank to run the business with a profit motive only. It also keeps a check on the interest rate of credit facilities provided by banks. RBI makes sure that the loans from the banks are affordable and cheap.
Detailed explanation-5: -The Reserve Bank of India supervises the functioning of formal sources of loans.