Statement : Exporters in the capital are alleging that commercial banks are violating a Reserve Bank of India directive to operate a post shipment export credit denominated in foreign currency at international rates from January this year.

Courses of Action :
I. The officers concerned in the commercial banks are to be suspended.
II. The RBI should be asked to stop giving such directives to commercial banks.

A. Only I follows

B. Only II follows

C. Either I or II follows

D. Neither I nor II follows

E. Both I and II follow

Answer: Option D

Solution(By Examveda Team)

The statement mentions that the commercial banks violate a directive issued by the RBI. The remedy is only to make the banks implement the Act. So, none of the courses follows.

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