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Q 1518556409. Many a times we read in the financial newspapers that Reserve Bank of India is Lender of Last Resort (LOLR) in India. Which among the following statement gives the most correct definition of Lender of Last Resort?

If a person or firm which is eligible to get a loan, does not get if from any commercial bank, may approach to Reserve Bank of India for loan.

If the state governments are in crisis and need money for short term, they can approach RBI for this purpose.

If a commercial bank is in crisis, it many place its reasonable demand for accommodation to Reserve Bank of India.

A scheduled commercial bank meets all of its demands in all weathers from Reserve Bank of India

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