The Reserve Bank of India (RBI) acts as a bankers' bank. This would imply which of the following?
    • 1. Other banks retain their deposits with the RBI.
    • 2. The RBI lends funds to the commercial banks in times of need.
    • 3. The RBI advises the commercial banks on monetary matters.
    Select the correct answer using the codes given below :

  • 2 and 3 only
  • 1 and 2 only
  • 1 and 3 only
  • 1, 2 and 3

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The Reserve Bank of India (RBI) acts as a bankers' bank. This would imply which of the following?
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