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If the Reserve bank of India did not exercise control over commercial banks, what impact would it have on the money and credit system?

Answer 1

Answer:

The supply of money in the market will reduce. ... On the other hand, if RBI was purchasing securities from the open market it would have the opposite effect. The supply of money to the market would increase. And so, in turn, the rate of interest would go down since the demand for credit would fall.

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Answer 2

Explanation:

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If the Reserve bank of India did...

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