Question

Which of the following statements is true or false?

a) Commercial banks can issue currency notes
b) Commercial banks sell and purchase securities on behalf of their customers

• A. (a) is false, but (b) is true
• B. Both (a) and (b) are true
• C. Both (a) and (b) are false
• D. (a) is true, but (b) is false

Answer 1

The correct option is A (a) is false, but (b) is true

Only Reserve Bank of India has the right to issues currency notes in India.

Commercial banks sell and purchase securities, shares and debentures on behalf of their customers.