Economics · Reserve Bank of India
Under the Minimum Reserve System, the Reserve Bank of India (RBI) is required to maintain a minimum reserve of which of the following assets to back currency note issuance?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A minimum reserve of bills of exchange and promissory notes payable in India
- 2A minimum reserve of gold and foreign exchange reserves✓
- 3A minimum reserve of gold coins and domestic government securities
- 4A minimum reserve of gold only
Correct answer
A minimum reserve of gold and foreign exchange reserves
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