Central bank (RBI) cannot accept deposit from the public. (State with reason whether the given statement is true or false)
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it does not deal with public. it supervises and regulates all types of banks in the country.
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Explanation:
No, RBI cannot accept deposit from the public because it provides loans to banks and financial institutions. The Central Bank (RBI) regulates demand and money supply in the country. RBI is the banker to the Government and also to the other banks. RBI is owned and also controlled by India. RBI has the power and it can print the currency of India but 1 Rupee note is the exception. Under section 22 of RBI, one rupee note is issued by the Ministry of Finance.
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