ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What are reserve banks?
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Banks that help the central bank carry out its duties.
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Banks that set the interest rate
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Banks that loan money to anyone who applies
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Banks that are located in each state
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Explanation:
Detailed explanation-1: -The Reserve Banks serve banks, the U.S. Treasury, and, indirectly, the public. A Reserve Bank is often called a “banker’s bank, ” storing currency and coin, and processing checks and electronic payments. Reserve Banks also supervise commercial banks in their regions.
Detailed explanation-2: -The Reserve Bank of India is the central bank of the country.
Detailed explanation-3: -Important Functions of RBI (Reserve Bank of India) Issue of Bank Notes. Banker to the Government. Custodian of the Cash Reserves of Commercial Banks. Custodian of country’s forex reserves.
There is 1 question to complete.