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Which section gives the Bank power of direct discount?
ASection 81
BSection 28
CSection 48
DSection 18
Answer & Solution
Correct answer: D. Section 18
1. It sits between the permitted and forbidden business.
2. Section 19 expressly saves it.
3. It is section 18.
_Source: The Reserve Bank of India Act, 1934 (India Code)_
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