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SSC CHSL 11 Aug 2021 Shift 2 Solved Paper
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Question : 95
Total: 100
Which of the following is the correct definition of Bank Rate?
It is the rate of interest payable by commercial banks to RBI.
It is the rate of interest payable by a scheduled bank at which RBI lends overnight.
It is the rate of interest payable by a consumer to commercial banks.
It is the rate of interest payable by RBI to commercial banks.
Validate
Solution:
Bank Rate is the rate charged by RBI for lending funds to commercial banks. The RBI changes bank rates to expand or constrict a nation's money supply in response to economic changes.
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