Consider the following Statements: I. Bank rate is the rate of interest which RBI charges its clients on their short-term borrowing.II. Repo rate is the rate of interest which RBI charges its clients on their long-term borrowing.Which of the statements given above is/are correct?

Consider the following Statements: I. Bank rate is the rate of intere

1.	Consider the following Statements: I. Bank rate is the rate of interest which RBI charges its clients on their short-term borrowing.II. Repo rate is the rate of interest which RBI charges its clients on their long-term borrowing.Which of the statements given above is/are correct?
A.	I only
B.	II only
C.	Both I and II
D.	Neither I nor II
Answer» E.