Discussion
Statement: Exporters in the capital are alleging that commercial banks are violating a Reserve Bank of India directive to operate a post shipment export credit denominated in foreign currency at international rates from January this year.
Courses of Action:
1. The officers concerned in the commercial banks are to be suspended.
2. The RBI should be asked to stop giving such directives to commercial banks.
Answer: D
Correct answer: Neither I nor II follows
Course 1 would suspend officers on an allegation that has not been examined, which is premature. Course 2 would have the central bank stop issuing directives altogether, which mistakes the offence for the rule. What is called for is an inquiry, and neither course provides it. Neither follows.
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