Which of the following is not a function of Central Bank?

The correct answer is Option (3) → It accepts deposits and give loans to people.

Central banks do not engage in retail banking activities such as accepting deposits from individuals or providing loans to people. Instead, they primarily focus on regulating the banking system, controlling the money supply, acting as a banker to the government, and issuing currency.

Commercial banks handle the functions related to accepting deposits and providing loans to individuals and businesses.