Which one of the following is the correct description about the Bank Rate in the Indian Money market?

A) Rate of interest charged by Commercial banks from the borrowers

B) Rate of interest which commercial banks discounted bills of their borrowers

C) Rate of interest allows by commercial banks on their deposits

D) Rate at which RBI purchase or rediscounts bill of exchange of Commercial banks

Correct answer:
D) Rate at which RBI purchase or rediscounts bill of exchange of Commercial banks


Please provide the error details in above question

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