The Reserve Bank of India (RBI) acts as a bankers' bank. This would imply which of the following ? 1. Other banks retain their deposits with the RBI 2. The RBI lends funds to the commercial banks in times of need. 3. The RBI advises the commercial banks on monetary matters. Select the correct answer using the codes given below:
Options
(a)2 and 3 only
(b)1 and 2 only
(c)1 and 3 only
(d)1, 2 and 3
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Class 12Money and Banking— NCERT Economics, Chapter 3. Money is the commonly accepted medium of exchange that removes barter's need for a double coincidence of wants; it is also a unit of account and a store of value.…
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