In India, the Commercial Banks are given license of operation by _________.

The Government of India

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The Ministry of Finance

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Reserve Bank of India

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Banking Companies Regulation Act. 1949

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Solution

The correct option is C Reserve Bank of India
A commercial bank is that financial institution which accepts deposit from people and offers loan for the purpose of consumption or investment. In India, the commercial banks are given license of operation by the Reserve bank of India which is an apex bank that controls the entire banking system of India.

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