Many a times, we read in newspapers that some big banks have revised their lending lends to make them dearer or cheaper. Though the decision to raise the lending rates is always in the hands of the banks normally they announce this decision of theirs:

1.       Immediately after the union Budget is presented in the Lok sabha every year.
2.       When the RBI makes changes in its policy rates.
3.       When the monetary and Credit Policy of the RBI is reviewed periodically.

The process by which the central bank of a country controls the supply of money in the economy by exercising its control over interest rates in orer to maintain price stability and achieve high economic growth is known as:

India’s Tax Administration Reform Commission submitted its first report to Finance Minister in June 2014 and this commission is headed by:

Inorder to promote financial inclusion, the Reserve Bank of India has recently allowed minors to operate bank accounts independently provided their age is above: