Question : The ___________ is the highest monetary authority in the country.
Option 1: Ministry of Finance
Option 2: Reserve Bank of India (RBI)
Option 3: State Bank of India (SBI)
Option 4: Central Government
Correct Answer: Reserve Bank of India (RBI)
Solution : The correct answer is (b) Reserve Bank of India (RBI).
The Reserve Bank of India (RBI) is the highest monetary authority in the country. It is the central bank of India and plays a crucial role in formulating and implementing monetary policy. The RBI is responsible for regulating and controlling the banking system, managing the country's currency and foreign exchange reserves, and ensuring the stability of the financial system.
As the highest monetary authority, the RBI has the authority to issue and regulate the currency in India, set interest rates, manage foreign exchange reserves, and supervise and regulate banks and financial institutions. It operates independently from the government in its decision-making process, although it works in coordination with the Ministry of Finance and other government agencies to achieve the country's economic objectives.
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Question : The ___________ is responsible for issuing and regulating the currency in India.
Option 2: Government of India
Option 3: Reserve Bank of India (RBI)
Option 4: State Bank of India (SBI)
Question : The ___________ is responsible for the issue and supply of currency notes in India.
Option 1: Government of India
Option 3: Ministry of Finance
Question : The central bank of India is ___________.
Option 1: Reserve Bank of India (RBI)
Option 2: State Bank of India (SBI)
Option 3: Punjab National Bank (PNB)
Option 4: ICICI Bank
Question : In India, _____fixes the Cash Reserve Ratio(CRR) for the banks in the economy.
Option 1: Reserve Bank of India
Option 2: Ministry of Finance
Option 3: Ministry of External Affairs
Option 4: State Bank of India
Question : The Economic Survey of India is prepared by the:
Option 3: Planning Commission of India
Option 4: Ministry of Commerce and Industry
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