Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Which of the following banks decide(s) the standard rate of interest on loans?

• A. Reserve Bank of India
• B. Commercial banks
• C. Cooperative banks
• D. Public sector banks

Answer 1

The correct option is A Reserve Bank of India

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> The Reserve Bank of India, often referred to as the RBI, decides the standard rate of interest on loans. The RBI monitors all the other banks and manages money in the country. It has a special status and is referred to as the central bank of India.