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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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