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Consider the following statements and identify the right ones.
1. RBI acts as clearing house for commercial banks.
2. It also grants license for setting up banking operations
1. RBI acts as clearing house for commercial banks.
2. It also grants license for setting up banking operations
- a)1 only
- b)2 only
- c)Both
- d)None
Correct answer is option 'C'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements and identify the right ones.1. RBI a...
Statement 1: RBI acts as clearing house for commercial banks.
- Explanation: The statement is correct. The Reserve Bank of India (RBI) acts as a clearinghouse for commercial banks. A clearinghouse is a financial institution that facilitates the exchange of funds between banks by clearing and settling transactions. In India, the RBI acts as the central clearinghouse for all interbank transactions.
Statement 2: It also grants a license for setting up banking operations.
- Explanation: The statement is correct. The RBI is responsible for granting licenses to banks for setting up banking operations in India. It regulates and supervises the banking sector in the country and ensures that banks meet certain criteria and requirements before granting them a license to operate.
Conclusion:
- Both statements 1 and 2 are correct. The RBI acts as a clearinghouse for commercial banks and also grants licenses for setting up banking operations.
- Explanation: The statement is correct. The Reserve Bank of India (RBI) acts as a clearinghouse for commercial banks. A clearinghouse is a financial institution that facilitates the exchange of funds between banks by clearing and settling transactions. In India, the RBI acts as the central clearinghouse for all interbank transactions.
Statement 2: It also grants a license for setting up banking operations.
- Explanation: The statement is correct. The RBI is responsible for granting licenses to banks for setting up banking operations in India. It regulates and supervises the banking sector in the country and ensures that banks meet certain criteria and requirements before granting them a license to operate.
Conclusion:
- Both statements 1 and 2 are correct. The RBI acts as a clearinghouse for commercial banks and also grants licenses for setting up banking operations.
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Consider the following statements and identify the right ones.1. RBI a...
RBI is also responsible for regulating banks, directs their credit policies and provides advice to them.
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Consider the following statements and identify the right ones.1. RBI acts as clearing house for commercial banks.2. It also grants license for setting up banking operationsa)1 onlyb)2 onlyc)Bothd)NoneCorrect answer is option 'C'. Can you explain this answer?
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