New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Identify the correct statement(s) regarding the RBI and

    gold imports: 1. The RBI is exempt from paying import levies on gold. 2. The total gold reserves of the RBI as of September 2023 were more than 500 tonnes. 3. The RBI's gold is stored exclusively within India.
    A Only 1 Correct Answer Incorrect Answer
    B 1 and 2 Correct Answer Incorrect Answer
    C 2 and 3 Correct Answer Incorrect Answer
    D 1, 2, and 3 Correct Answer Incorrect Answer
    E Only 3 Correct Answer Incorrect Answer

    Solution

    • India has allowed its central bank to import gold without paying import levies. • Gold importers from the world's second biggest gold consumer need to pay basic customs duty and Agriculture Infrastructure and Development Cess (AIDC). • As of September 2023, the Reserve Bank of India held 800.79 metric tonnes of gold, including gold deposits of 39.89 tonnes. • Of that, 388.06 tonnes is held overseas and 372.84 tonnes is held domestically, according to the RBI's latest reserve management report. Learn Along About RBI Founded: 1 April 1935                                    Headquarters: Mumbai                                     Governor: Shaktikanta Das

    Practice Next

    Relevant for Exams: