State whether the following statements are TRUE or FALSE.
3. Bank Rate is the selective credit control measure used by the Central Bank of the country.
Answer:
3. Bank Rate is the selective credit control measure used by the Central Bank of the country. - False
Explanation:
Bank Rate refers to the rate of interest at which the central bank lends money to the commercial banks or the rate at which the central bank discounts the bills of the commercial banks. This is classified as a quantitative measure of credit control since it directly affects the market interest rate and thereby the money supply in the economy.
