Economics · Economy
Bank rate is defined as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The rate of interest which a central bank charges on its loans and advances to commercial banks.✓
- 2The rate of interest given by banks on a Savings account.
- 3The rate of interest at which commercial banks lend money to consumers.
- 4The rate of interest given by banks on a fixed deposit.
Correct answer
The rate of interest which a central bank charges on its loans and advances to commercial banks.
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