Economics · Economy

Which of the following statements correctly describes the 'Bank Rate' in India?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1It is the rate of interest received by depositors on their savings accounts.
2It is the interest rate charged by co-operative banks to their regular customers.
3It is the interest rate charged by commercial banks to their general customers.
4It is the rediscounting rate charged by the RBI to commercial banks.✓

Correct answer

It is the rediscounting rate charged by the RBI to commercial banks.

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