Q. Which among the following statement is NOT correct about the Reserve Bank of India?
Answer: RBI is responsible for all banking operations of the State Governments
Notes: The statement "RBI is responsible for all banking operations of the State Governments" is NOT correct. The Reserve Bank of India primarily serves as the central bank, regulating monetary policy, managing currency, and overseeing the banking sector. State governments manage their own banking operations, often through state-owned banks or financial institutions. The RBI does not directly handle state banking operations, although it may provide financial assistance or guidance.