Question

Identify the incorrect option

a. Commercial Banks make use of the deposits to meet the loan requirements of the people.

b. People's money is safe with the banks and it earns an amount of interest.

c. The Reserve Bank of India supervises the functioning of formal sources of loans.

d. The Central government issues currency notes on behalf of the Reserve Bank of India.​

Answer 1

Answer:

option B is incorrect

Explanation:

MARK AS BRAINLIST ☺☺

Answer 2

The option d is incorrect:

Explanation:

d. The Central government issues currency notes on behalf of the Reserve Bank of India.​

• The currency notes on behalf of the Central Government are issued by the Reserve Bank of India (RBI) only.
• The statement is vice versa.
• According to Indian law, no other organisation or individual is permitted to issue currency notes.
• The Reserve Bank of India is in charge of not just the supply and issue of Indian rupees, but also the regulation of the Indian banking system.
• The Reserve Bank of India (RBI) is the country's central bank.
• It reports to the Ministry of Finance.
• The Reserve Bank of India was founded on April 1, 1935.
• The company's headquarters are in Mumbai.
• The Reserve Bank of India, often known as the Banker's Bank, offers emergency advances to banks.