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Question

I am the apex banking institution. I control and regulate the entire banking system and money supply of the country. All the commercial banks have to follow the rules I set. I am the banker of all the banks and the government. Who am I?

A
NABARD
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B
RBI
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C
Central bank
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D
SHGs
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Solution

The correct option is C Central bank
The RBI is the apex bank of India and it is also known as the Central Bank. The RBI controls and regulates the entire banking system and money supply of the country. It also has a reserve that is made up of a small portion of the deposits that other banks get and give to the RBI.

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