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Section 20 obliges the Bank to manage which liability of the Union?
AThe public data
BThe public debt
CThe public duty
DThe public dues
Answer & Solution
Correct answer: B. The public debt
1. The Bank accepts monies for the Government's account.
2. It carries out exchange and remittance operations.
3. It also manages the public debt of the Union.
_Source: The Reserve Bank of India Act, 1934 (India Code)_
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