S1: The Reserve Bank of India (RBI) is the central bank of India. S2: RBI regulates the entire financial system of India. Which statement(s) is/are correct? MCQ with Answer and Explanation
S1: The Reserve Bank of India (RBI) is the central bank of India. S2: RBI regulates the entire financial system of India. Which statement(s) is/are correct?
A. Neither S1 nor S2
B. S1 only
C. Both S1 and S2
D. S2 only
Answer: Option C
Solution (By JKSSB Mock Tests)
RBI is the central bank, established under the RBI Act, 1934. It regulates the monetary policy, banking system, and foreign exchange, effectively regulating the core of the Indian financial system. Both statements are correct.
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