Question : In India, credit creation is done by:
A) Ministry of Finance
B) Reserve Bank of India
C) Commercial Banks
Option 1: Only C
Option 2: Only B
Option 3: All - A, B and C
Option 4: Only A
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Answer (1)
25th Jan, 2024
Correct Answer: Only C
Solution : The correct answer is Only C .
In India, credit creation is primarily done by commercial banks. Commercial banks play a crucial role in the monetary system by accepting deposits from the public and lending money to individuals, businesses, and other entities.
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