A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Correct answer: (a) 1 only
Explanation
Statement 1 is correct because Treasury Bills in India are indeed issued by the RBI in three standard tenors of 91-day, 182-day, and 364-day. Statement 2 is incorrect because T-bills are zero-coupon short-term debt securities issued at a discount, not long-term securities issued at a premium.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.