money supply, banking & financial institutions section 6 MCQ Questions & Answers Detailed Explanation

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The following question based on Money Supply, Banking and Financial Institutions topic of indian economy mcq

Questions : The question of full capital account convertibility of Indian was explained by the committee known as

(a) Rangarajan Committee

(b) Hashim Committee

(c) Tarapore Committee II

(d) Vaghul Committee

The correct answers to the above question in:

Answer: (c)

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Read more money and supply banking financial institutions Based Indian Economy Questions and Answers

Question : 1

Who has the authority to issue currency notes in India?

a) Ministry of Finance

b) RBI

c) Central Government

d) RBI governor

Answer: (b)

The RBI Act of 1934, Section 22 gives the central bank the sole right to issue currency notes.

Question : 2

Study the following statements with regard to Reserve Bank of India and select your answer from the codes given below.

  1. It is the Apex Bank.
  2. It regulates the money supply.
  3. It gives loan to the business houses.
  4. It supervises the operations of NABARD.
Code

a) 2 and 4

b) 1, 2 and 4

c) 1, 2 and 3

d) 1 and 2

Answer: (d)

Question : 3

Which one of the following statements about foreign exchange reserves of India is not true?

a) It is maintained with the Reserve Bank of India

b) Presently foreign exchange situation is satisfactory in India

c) Special drawing rights are not included in it

d) It includes foreign currency assets and gold holdings of Reserve Bank of India

Answer: (c)

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