Discussion
The central banking functions in India are performed by the?I.Central Bank of India II.Reserve Bank of IndiaIII.State Bank of IndiaIV.Punjab National Bank
Answer: B
Central banking functions are performed by the Reserve Bank of India alone.
The RBI issues currency, acts as banker to the government and to the banks, manages the exchange rate and controls credit. The Central Bank of India, the State Bank of India and Punjab National Bank are commercial banks, whatever their names suggest.
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