Previous year MCQs

Economy UPPSC 2009 GS-I
Question

The Bank rate is the rate at which:

Answer & Solution

Answer: (Detailed Solution Below)

Option C: the RBI gives credit to the commercial banks

Detailed Solution:

The correct answer is “the RBI gives credit to the commercial banks”.
The bank rate is the interest rate at which the Reserve Bank of India (RBI) lends short-term loans to commercial banks without collateral or a repurchase agreement. It's also known as the discount rate.

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