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Question
Which of the following banks in India formulates the monetary policy?
Which of the following banks in India formulates the monetary policy?
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Solution
The correct option is C Reserve Bank of India
The Reserve Bank of India also acts as the supervisor and regulating authority of other banks. It lends money to other banks in case of emergencies. So, it is also called the bankers bank. It also acts as the bank of the government and formulates a policy called monetary policy.
The Reserve Bank of India also acts as the supervisor and regulating authority of other banks. It lends money to other banks in case of emergencies. So, it is also called the bankers bank. It also acts as the bank of the government and formulates a policy called monetary policy.
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