Which of the following is also known as

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Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Money and Banking

Question:

Which of the following is also known as "Bank of Issue" in India?

Options:

Federal bank

Commercial bank

Central bank

Co-operative bank

Correct Answer:

Central bank

Explanation:

The correct answer is option 3: Central bank

Bank of issue refers to the bank which has the legal right to issue currency. In India, the central bank that is RBI has the right to issue currency.