Consider the following statements : 1. Bank Rate is the r

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M: +2.00/-0.50

Consider the following statements :

1. Bank Rate is the rate of interest which RBI charges its clients on their short-term borrowing.

2. Repo Rate is the rate of interest which RBI charges its clients on their long-term borrowing.

Which of the statements given above is / are incorrect?

56th to 59th B.P.S.C. (Pre) 2015

[Fiscal Policy, Inflation Planning and Banking]

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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