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Question

Who is the official "lender of the last resort" in India?

A
State Bank of India
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B
Punjab and National Bank
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C
Reserve Bank of India
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D
Oriental Bank of Commerce
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Solution

The correct option is C Reserve Bank of India
RBI is the official lender of the last resort in India. Lender of the last resort means Central bank coming to the rescue of other banks in times of financial crisis.

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