Question

Under which sections of the RBI Act, 1934 are RBI’s roles as banker, financial agent, and financial advisor defined?

• A. Sections 17, 18, 19
• B. Sections 20, 21, 21(a)
• C. Sections 22, 23, 24
• D. d) Sections 33, 34, 35

Answer 1

Answer:

B. Sections 20, 21, 21(a)

RBI’s roles as banker, financial agent, and financial advisor to the government are defined under Sections 20, 21, and 21A of the RBI Act, 1934. Section 20: RBI as banker to the central and state governments, managing their accounts. Section 21: RBI as financial agent of the government, handling borrowing and public debt. Section 21A: RBI as financial advisor to the government, advising on economic and financial matters.