Economics · Banking and Finance
Select the INCORRECT statement regarding the central banking institution of India (Reserve Bank of India).
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It acts as the primary banker to the central and state governments.
- 2The State Bank of India functions as the central bank of the country.✓
- 3It acts as the custodian of the nation's foreign exchange reserves.
- 4It controls the country's money supply and monetary policy.
Correct answer
The State Bank of India functions as the central bank of the country.
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