Economics · Banking and Currency
What is meant by 'Bank Rate' in the Indian financial system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The interest rate allowed by commercial banks on savings deposits
- 2The interest rate charged by commercial banks from their prime borrowers
- 3The call money rate charged for inter-bank short-term loans
- 4The official interest rate at which the RBI is ready to buy or rediscount bills of exchange✓
Correct answer
The official interest rate at which the RBI is ready to buy or rediscount bills of exchange
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