A) Ministry of Finance
B) Reserve Bank of India
C) Indian Banks Association (IBA)
D) Banks themselves
Correct Answer: D
Solution :
[d] In the past, before RBI had deregulated the savings bank interest rate regime, all banks were offering the same interest rate, which was 4% per annum. When RBI brought about changes in 2011, banks became free to decide the interest rate they wanted to pay on their savings bank accounts, depending on their liquidity and profitability preferences.
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