When RBI is the lender of last resort what does it mean?
A. RBI advances necessary credit against eligible securities
B. Commercial banks give funds to RBI
C. RBI advances money to public whenever there is an emergency
D. All of the above
Answer: RBI advances necessary credit against eligible securities
More Financial Law MCQs and Answers
29. Bank rate means
34. Which one of the following Banks in India had started the special promotional and developmental activities to meet the twin objectives of balanced regional development and accelerated industrial growth in the country?
35. Which one of the following development Financial Institutions in India has started the special refinance scheme for the resettlement and rehabilitation of Voluntary Retired workers of the National Textile Corporation (NIC)?