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Question
The rate of Interest on Savings Bank Account is stipulated by_____________.
The rate of Interest on Savings Bank Account is stipulated by_____________.
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Solution
The correct option is A RBI
RBI stands for Reserve Bank of India. It is the central bank of India.
It is the apex bank and has the sole authority to issue and manage
currency in India. Thus, the rate of interest on savings bank account is stipulated by RBI. The rate of interest depends on the financial stability in an economy.
RBI stands for Reserve Bank of India. It is the central bank of India. It is the apex bank and has the sole authority to issue and manage currency in India. Thus, the rate of interest on savings bank account is stipulated by RBI. The rate of interest depends on the financial stability in an economy.
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