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State Whether the Following Statement is True Or False with Reason:Central Bank Works for Profit. - Economics

State whether the following statement is True or False with reason:

Central Bank works for profit.

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Solution

False, the central bank does not work for earning profits.
Explanation:
Central bank is the apex financial institution of a country. It performs various functions such as being a banker to the government, controller of the credit, issuer of the currency notes and others. The main objective of a central bank is to work for the benefit and development of the society as a whole and not to earn profits.​

Concept: Definition - Central Bank
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