Q22
____ is the official minimum rate at which the Central Bank of a country is prepared to rediscount approved bills held by the commercial banks
A.
Repo rate
B.
Bank rate
AnswerC.
Prime lending rate
D.
Reverse repo rate
Answer: Option B
Solution
Answer: Option B
Solution:
Bank rate is the official minimum rate at which the Central Bank of a country is prepared to rediscount approved bills held by the commercial banks.