Previous year MCQs

Economy UPPSC 1998 GS-I
Question

Which one of the following banks is under the control of the Reserve Bank of India?

Answer & Solution

Answer: (Detailed Solution Below)

Option D: Central bank of India

Detailed Solution:

The correct answer is “Central bank of India”.
Central Bank of India is a commercial bank and comes under the regulatory purview of the Reserve Bank of India (RBI).  

Exim Bank, Industrial Development Bank of India (IDBI), and NABARD are specialized financial institutions with specific functions and are not commercial banks under the direct control of the RBI.

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