502
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The rate at which the central bank lends money to member commercial banks against approved securities is known as
The rate at which the central bank lends money to member commercial banks against approved securities is known as
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Solution
The correct option is C Bank rate
The bank rate policy is the traditional method of credit control used by the central bank. The rate at which the central bank lends money to its member commercial banks against approved securities is known as the bank rate.
Bank rate
The bank rate policy is the traditional method of credit control used by the central bank. The rate at which the central bank lends money to its member commercial banks against approved securities is known as the bank rate.
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