Question

_________ is the apex body of the monetary and banking system of the country's economy.

• A. Commercial bank
• B. Central bank
• C. Government
• D. Co-operative bank

Answer 1

Answer: (B)

Central bank

Central bank is an apex bank that controls the entire banking system of a country. It is the sole agency of note issuing and controls the supply of money in the economy. It serves as the banker of the government and manages foreign exchange of the government.