SSC Economics Sample Paper NCERT Sample Paper-4

  • question_answer
    Which among the following decides the Saving Banks Account Interest Rate in India?

    A)  Ministry of Finance

    B)  Reserve Bank of India

    C)  Indian Banks Association (IBA)

    D)  Banks themselves

    Correct Answer: D

    Solution :

    [d] In the past, before RBI had deregulated the savings bank interest rate regime, all banks were offering the same interest rate, which was 4% per annum. When RBI brought about changes in 2011, banks became free to decide the interest rate they wanted to pay on their savings bank accounts, depending on their liquidity and profitability preferences.

You need to login to perform this action.
You will be redirected in 3 sec spinner