A
It determines the foreign exchange reserve allocations for public sector oil marketing companies.
B
It acts as the penal borrowing window for commercial banks against their excess Statutory Liquidity Ratio (SLR) holdings.
C
It serves as the operating target of RBI monetary policy reflecting uncollateralised overnight interbank lending rates.
D
It functions as the collateral-free deposit rate floor for the entire Liquidity Adjustment Facility corridor.
Correct answer: (c) It serves as the operating target of RBI monetary policy reflecting uncollateralised overnight interbank lending rates.
Explanation
Option C is correct because the Weighted Average Call Rate is the operating target of the RBI's monetary policy, reflecting uncollateralised overnight interbank lending rates. Option B describes the Marginal Standing Facility, option A relates to forex windows, and option D describes the Standing Deposit Facility.
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