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Interest for delayed collection of bills is paid above the savings rate by:
A5 per cent
B2 per cent
C3 per cent
D4 per cent
Answer & Solution
Correct answer: B. 2 per cent
1. The lodger's bank pays the lodger for the delay.
2. The benchmark is the savings bank rate.
3. The margin over it is 2 per cent per annum.
_Source: Reserve Bank of India (Commercial Banks - Responsible Business Conduct) Directions, 2025_
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