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:

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.