Question

The central bank works as a friend, philosopher and guide to commercial banks.

• A. True
• B. False

Answer 1

The correct option is A True

True.

Central bank is an apex bank that controls the entire banking system of a country. It acts as a friend, philosopher and guide to all the commercial banks as they help the commercial banks to practice the banking services more efficiently, guide them at the time of any uncertainty and list the rules and regulations according to which they have to work.