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.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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Statement :
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