ECONOMICS
MONETARY POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not the work of RBI?
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Bank of the banks
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Credit controller
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Custodian of foreign currency
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Allocating funds directly to the farmers for agricultural development
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Explanation:
Detailed explanation-1: -Issuing of coins is not a function of the Central Bank.
Detailed explanation-2: -The Reserve Bank of India (RBI) set up the Agricultural Refinance Corporation (ARC) in 1963 to work as a refinancing agency in providing medium-term and long-term agricultural credit to support investment credit needs for agricultural development.
Detailed explanation-3: -Thus, To accept deposits on interest from public is not a function performed by Reserve Bank of India.
Detailed explanation-4: -Advancing loans to the public and accepting deposits from the public is not the function of the Reserve Bank of India.
There is 1 question to complete.