Economics · Banking in India
What is the Savings Bank Rate?
- 1The interest rate paid by banks on the small savings deposited by bank customers✓
- 2The rate at which commercial banks lend money to their typical customers
- 3The rate at which central bank purchases gold from commercial banks
- 4The rate at which one currency is exchanged for another in the market
Correct answer
The interest rate paid by banks on the small savings deposited by bank customers
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