Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Banking and Financial Awareness Basic Banking Concepts
Which of the following statement is true about the Bank Rate?
I. It is the rate at which the Reserve Bank is ready to buy or rediscount bills of exchange or other commercial papers.
II. This rate has been aligned to the MSF rate.
1
Neither I nor II
2
Only II
3
Both I and II
4
Only I