SSC
INDIAN ECONOMY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which is tha following is tha Banker of Banks?
|
|
IDBI
|
|
|
SBI
|
|
|
RBI
|
|
|
SBI and RBI
|
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: -(iii) It acts as a bank of central clearance, settlements and transfers. As all commercial banks have their accounts with the Central Bank, it can easily settle claims of various commercial banks against each other by making debit and credit entries in their accounts.
Detailed explanation-3: -Q: Which bank is called the Bankers of Banks in India? Ans: The Reserve Bank of India (RBI) is known as the Bankers of Banks in India.
There is 1 question to complete.