Economics · Economy
The 'Call Money Rate' is best described as a/an:
- 1Interest rate charged by commercial banks on account overdrafts
- 2Short-term interest rate offered by banks to their retail customers
- 3Short-term interest rate for inter-bank overnight loan transactions✓
- 4Interest rate charged by the RBI for long-term transactions with commercial banks
Correct answer
Short-term interest rate for inter-bank overnight loan transactions
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