Which of the following is true about the restrictions on RBI?
(i) It is not to compete with the commercial banks.
(ii) It is not allowed to pay interest on its deposits.
(iii) It cannot engage directly or indirectly in trade.
(iv) It cannot acquire or advice loans against immovable property.
(v) It is prohibited from purchasing its own shares or the shares of any other bank or any company or granting loans on such security.
A)only (i),(ii),(iii), and (iv)
B)only (v
C)all the above
D)none of the above

Question

Quizplus · Accepted Answer

All the statements (i) through (v) correctly describe restrictions on the Reserve Bank of India (RBI), including not competing with commercial banks, not paying interest on deposits, not engaging in trade, not acquiring or advising loans against immovable property, and not purchasing its own shares or the shares of any bank or company or granting loans on such security.

Which of the Following Is True About the Restrictions on RBI