Question

-) what is bank rate? What are the effects of
Changes
in bank slate ?​

Answer 1

Answer:

NBFCs are financial intermediaries engaged in the business of accepting deposits delivering credit and play an important role in channelizing the scarce financial resources to capital formation. ... In India, despite being different from banks, NBFC are bound by the Indian banking industry rules and regulations

Answer 2

Answer:

Bank rate is the rate at which RBI lends money to commercial banks to meet their long term needs. A decrease in bank rate means that commercial banks would borrow more money from commercial banks. As a result,their lending capacity increases and they tend to lend more money to public.Due to this, the purchasing power of consumers increases  and this leads to an increase in aggregate demand. This is used in times of deflation. In times of inflation,the bank rate is increased due to which commercial banks borrow less money from RBI. This decreases their lending capacity,the purchasing power of consumers decrease which ultimately leads to decrease in aggregate demand.

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