ECONOMICS
FEDERAL RESERVE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Deposit payroll checks
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Supervise commercial banks
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Contribute to monetary policy
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Provide financial services
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Detailed explanation-1: -What Do the Federal Reserve Banks Do? In addition to helping set monetary policy, the Reserve Banks’ responsibilities include supervising and examining member banks, providing key financial services, supporting the government, and serving their District.
Detailed explanation-2: -Answer and Explanation: Federal Reserve banks do not set interest rate on time deposit.
Detailed explanation-3: -Each Reserve Bank gathers data and other information about the businesses and the needs of local communities in its region. That information is then factored into monetary policy decisions by the FOMC and other decisions made by the Board of Governors.
Detailed explanation-4: -Advancing loans to the public and accepting deposits from the public is not the function of the Reserve Bank of India.