State whether the following statements are True or False with reason:
Due to clearing house of the Central Bank cash money is saved.
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Solution
True, due to clearing house of the Central Bank cash money is saved.
Explanation:
The central bank perform various functions among which one is being the clearing house for commercial banks. This function helps them to facilitate and economise the use of cash in the country thereby saving it.
Concept: Central Bank Function - Controller of Credit
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