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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 statement(s) given above is/are correct?

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Consider the following statements.<br />1. Bank rate is the rate of interest which RBI charges its clients on their short-term borrowing.<br />2. Repo rate is the rate of interest which RBI charges its clients on their long-term borrowing. Which of the statement(s) given above is/are correct?






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