Question

To tackle problems, RBI has allowed the commercial banks to reduce the interest rates on loans. Identify the business environment.

• A. Economic environment
• B. Social environment
• C. Legal environment
• D. None of the above

Answer 1

The correct option is A

Economic environment

To tackle problems, RBI has allowed the commercial banks to reduce the interest rates on loans, which is dealt by the economic environment. It refers to the broad characteristics of the economic system in which business enterprises carry out their business.