Subject - Economics:

Miscellaneous

MCQ - 253-4263

Question:

Under the minimum reserve system, the Reserve Bank of India as the sole authority of note issue is required to maintain assets worth not less than

115 crores of rupees
85 crores of rupees
200 crores of rupees
85 crores of rupees

Correct Answer: C

Explanation:

Sol. Under the Minimum Reserve System, the RBI has to keep a minimum reserve of Rs 200 crore comprising of gold coin and gold bullion and foreign currencies. Out of the total Rs 200 crores, Rs115 crore should be in the form of gold coins or gold bullion.

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