GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which is tha following is tha Banker of Banks?
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IDBI
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SBI
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RBI
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SBI and RBI
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Explanation:
Detailed explanation-1: -In India, Reserve Bank Of India or RBI is known as the banker’s bank. It is so called because it acts as a bank for all the commercial banks in India.
Detailed explanation-2: -The Reserve Bank of India acts as a lender of last resort and a bankers’ bank. It provides credit to banks in times of need and other banks retain their deposits with the RBI.
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