The Reserve Bank is described in the Act as a:
ABody corporate
BBody collective
CBody composite
DBody consultative
Answer & Solution
Correct answer: A. Body corporate
1. It has perpetual succession and a common seal.
2. It may sue and be sued in its own name.
3. That makes it a body corporate.
_Source: The Reserve Bank of India Act, 1934 (India Code)_
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