In India, the central bank’s function as the ‘lender of last resort’ usually refers to which of the following?1. Lending to trade and industry bodies when they fail to borrow from other sources2. Providing liquidity to the banks having a temporary crisis3. Lending to governments to finance budgetary deficitsSelect the correct answer using the code given below.

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Dev kumar

01 Jan 1970 05:30 AM study24x7

In India, the central bank’s function as the ‘lender of last resort’ usually refers to which of the following?
1. Lending to trade and industry bodies when they fail to borrow from other sources
2. Providing liquidity to the banks having a temporary crisis
3....

1 and 2

2 only

2 and 3 only

3 only