The function of the Reserve Bank of India as the 'Lender of Last Resort' primarily signifies which of the following?

Options:

• A: It is the primary source of regular commercial credit for large industrial houses in India.
• B: It provides emergency liquidity to solvent but temporarily illiquid banks when all other market sources of funding are exhausted.
• C: It is the sole authority responsible for funding the fiscal deficit of the Central Government through direct monetization.
• D: It provides long-term developmental capital to agricultural and rural cooperative banks free of interest.

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