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    Question

    Which institution is primarily responsible for

    safeguarding and managing a country's foreign exchange reserves?
    A IFSCA Correct Answer Incorrect Answer
    B Ministry of Finance Correct Answer Incorrect Answer
    C State Bank of India (SBI) Correct Answer Incorrect Answer
    D Reserve Bank of India (RBI) Correct Answer Incorrect Answer
    E Securities and Exchange Board of India (SEBI) Correct Answer Incorrect Answer

    Solution

    The central bank of a country is responsible for maintaining the foreign exchange reserves. Therefore, in India, it is the Reserve Bank of India, which is the sole custodian of the foreign exchange reserves. 

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