National Clearing House

Q. The Reserve Bank of India acts as a:

1. Commercial bank
2. Controller of credit
3. National clearing house
4. Banker's bank

Q. Sarla lives in a small village in India holding an account in Bank A, while her son lives in a city in India and has an account in Bank B. She requires money, and her son is about to transfer it to her account. What kind of transaction would they engage in?

1. Intra-bank transfer
2. International transfer
3. Inter-bank transfer
4. Self-transfer