General Knowledge · Banking and Monetary Policy
What is meant by the term 'Bank Rate' in the Indian financial system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The standard rate at which the RBI is prepared to buy or rediscount bills of exchange or commercial papers from Commercial Banks✓
- 2The interest rate charged by the RBI on long-term loans to Agricultural Development Banks exclusively
- 3The interest rate paid by State Banks to public depositors
- 4The interest rate charged by the RBI on short-term advances to the Government of India
Correct answer
The standard rate at which the RBI is prepared to buy or rediscount bills of exchange or commercial papers from Commercial Banks
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