Question

Statement (1): Reserve Bank of India is the Central Bank of India.

Statement (2): Central Bank operates in public interest without profit motive.

Options

• Both the statements are true.

• Both the statements are false.

• Statement 1 is true, Statement 2 is false.

• Statement 2 is true, Statement 1 is false.

Answer 1

Both the statements are true.

Explanation:

• Statement (1): The Reserve Bank of India (RBI) is officially designated as the apex central banking authority of India.
• Statement (2): Macro-economic stability, regulating money supply, and promoting national economic welfare without a profit-seeking motive.