CUET Preparation Today
Which among the following is the incorrect statement about the Reserve Bank of India? |
Reserve Bank of India (RBI) is the Central Bank Central Bank controls the money supply Central Bank in said to be the lender of the last resort Central Bank accepts deposits from the public and provides loan to the public |
Central Bank accepts deposits from the public and provides loan to the public |
The correct answer is Option (4) → Central Bank accepts deposits from the public and provides loan to the public Central banks like the RBI do not accept deposits from the public or provide loans directly to the public. Their primary functions involve regulating the banking sector, controlling the money supply, acting as the banker to the government, and maintaining financial stability. It is the commercial banks which accepts deposits from the public and provides loan to the public. |
