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● Statement 1 is correct: The RBI shall recommend the denominational values of the notes as well as the discontinuance of issue of notes (Section 24 of the Reserve Bank of India Act, 1934). Further, it is on the recommendation of the RBI that the Central government may declare that any series of bank notes shall cease to be legal tender (Section 26) ● Statement 2 is correct: Custodian of Foreign Reserves: For the purpose of keeping the foreign exchange rates stable, the Reserve Bank buys and sells foreign currencies and also protects the country's foreign exchange funds. RBI sells the foreign currency in the foreign exchange market when its supply decreases in the economy and vice-versa. Currently, India has a Foreign Exchange Reserve of around US$ 650 billion. ● Statement 3 is incorrect: To maintain price stability, inflation needs to be controlled. The Government of India sets an inflation target for every five years. RBI has an important role in the consultation process regarding inflation targeting. The current inflation-targeting framework in India is flexible in nature. The amended RBI Act provides for the inflation target to be set by the Government of India, in consultation with the Reserve Bank, once every five years. ● Statement 4 is correct: The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy. This responsibility is explicitly mandated under the Reserve Bank of India Act, 1934.The primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth.
How many persons live below K (considering both types of flats)?
Which of the following statement(s) is/are true?
I) Two persons were born between the one like Black and the one who like White
II) The Nu...
Which of the following combination is true?
Four of the following five are alike in a certain way and thus form a group. Find the one which does not belong to that group?
How many exams are scheduled before Saturday?
How many persons are working below the floor in which A is working?
Who among the following sits exactly between the one who likes Pug and W?
Who lives in Flat-A of 3rd floor?
What was the number of males and females went to take their exam in Slot 2?
Using which of the following material does floor 4 was built?