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SSC CGL 2023 PYQ — Question 39

SSC CGL - 21 July 2023 - Shift 3 • General Awareness • Q39

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Which of the following is also known as the 'lender of the last resort'?

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Correct answer: C

Explanation

The correct answer is option 3 i.e. RBI.

  • Reserve Bank of India (RBI) is also known as the "lender of the last resort."
  • In this role, the RBI provides emergency funding to financial institutions facing liquidity crises, ensuring stability and confidence in the financial system.
  • This function helps prevent bank failures and maintains the overall health of the economy.