📝 Multiple Choice Question
Economics
Which of the following is function of the Reserve Bank of India? I. Issuing of currency II. Lender of last resort
A
Neither I nor II
B
Both I and II
C
Only I
D
Only II
Explanation
Under the RBI Act of 1934, the central bank holds the sole statutory authority to issue banknotes in India and simultaneously acts as the lender of last resort to commercial banks facing liquidity crises.
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