Q4
Statement : Exporters in the capital are alleging that commercial banks are violating a Reserve Bank of India directive to operate a post shipment export credit denominated in foreign currency at international rates from January this year. Courses of Action : I. The officers concerned in the commercial banks are to be suspended. II. The RBI should be asked to stop giving such directives to commercial banks.
A.
Only I follows
B.
Only II follows
C.
Either I or II follows
D.
Neither I nor II follows
AnswerE.
Both I and II follow
Answer: Option D
Solution
Answer: Option D
Solution:
The statement mentions that the commercial banks violate a directive issued by the RBI. The remedy is only to make the banks implement the Act. So, none of the courses follows.