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      Question

      The Reserve Bank established under s.3 of the RBI Act,

      1934 has taken over currency management from?
      A Central Government Correct Answer Incorrect Answer
      B State Government Correct Answer Incorrect Answer
      C National Bank Correct Answer Incorrect Answer
      D Ministry of Finance Correct Answer Incorrect Answer
      E commercial and cooperative banks. Correct Answer Incorrect Answer

      Solution

      S.3 (1) A bank to be called the Reserve Bank of India shall be constituted for the purposes of taking over the management of the currency from the [Central Government] and of carrying on the business of banking in accordance with the provisions of this Act.

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