Question
The present Indian monetary system is based on
Answer: Option D
Answer: (d)
Since 1957, the Reserve Bank of India is required to maintain gold and foreign exchange reserves of Rs.200 crore, of which at least Rs.115 crore should be in gold and Rs.85 crore in the form of Government Securities. The system as it exists today is known as the minimum reserve system.
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Answer: (d)
Since 1957, the Reserve Bank of India is required to maintain gold and foreign exchange reserves of Rs.200 crore, of which at least Rs.115 crore should be in gold and Rs.85 crore in the form of Government Securities. The system as it exists today is known as the minimum reserve system.
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