Which of the following options is/are correct statement(s)? Statement 1: The Reserve Bank of India (RBI) acts as the banker’s bank and manages the country’s monetary policy. Statement 2: The Industrial Finance Corporation of India (IFCI) is responsible for controlling the country’s monetary policy.

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KollegeApply · Accepted Answer

Only Statement 1 is correct. Explanation: The Reserve Bank of India (RBI) is the country’s top central banking authority, officially functioning as the “banker’s bank” by keeping commercial bank reserves and overseeing the country's overall monetary policy to preserve price stability.

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