GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who works as RBI’s agent at places where it has no office of its own?
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State Bank of India
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Ministry of Finance
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Government of India
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International Monetary Fund
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Explanation:
Detailed explanation-1: -Section 32 states that the State Bank shall act as agent of the RBI at all places in India where RBI does not have a branch of its banking department.
Detailed explanation-2: -RBI has authorised four private sector banks viz. ICICI Bank Ltd., UTI Bank Ltd., IDBI Bank Ltd.
Detailed explanation-3: -Overview. Under the Reserve Bank of India, Act, 1934 (RBI Act, 1934) (as amended in 2016), RBI is entrusted with the responsibility of conducting monetary policy in India with the primary objective of maintaining price stability while keeping in mind the objective of growth.
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