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Question
Who carries out the general banking activities of both the central government and the state governments in India?
Who carries out the general banking activities of both the central government and the state governments in India?
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Solution
The correct option is D Reserve Bank of India
The Reserve Bank of India carries out the general banking activities of both the central government and the state governments in India. The RBI makes the government’s payments as well. Sometimes, it also appoints certain commercial banks as agents to carry out these functions.
These agent banks include the State Bank of India, Indian Bank, Indian Overseas Bank, and many more.
The Reserve Bank of India carries out the general banking activities of both the central government and the state governments in India. The RBI makes the government’s payments as well. Sometimes, it also appoints certain commercial banks as agents to carry out these functions.
These agent banks include the State Bank of India, Indian Bank, Indian Overseas Bank, and many more.
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