Question

From the following which is NOT correct about RBI:

i. RBI regulates currency futures.

ii. RBI is responsible only for supply of currency to the general public.

iii. Coins are minted by RBI as per the expected demand and replacement need of the public.

iv. RBI has been entrusted with the job of regulating commodity futures.

A Only i Correct Answer Incorrect Answer
B Only i and iii Correct Answer Incorrect Answer
C Only i and iv Correct Answer Incorrect Answer
D Only iii and iv Correct Answer Incorrect Answer
E All of the above are correct Correct Answer Incorrect Answer

Solution

The Reserve Bank of India, in association with capital markets regulator SEBI, regulates Currency futures. Coins are minted by Govt of India but are issued by RBI. The Forward Markets Commission (FMC) is the chief regulator of commodity futures markets in India. It regulated Rs 17 trillion worth of commodity trades in India.

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