Current Affairs · Banking and Economy

With reference to the Reserve Bank of India’s (RBI) foreign exchange operations and surplus generation up to 2024–25, consider the following statements: 1. The RBI intervenes in the foreign exchange market primarily to curb excessive volatility in the Indian Rupee. 2. Gains from foreign exchange trading operations historically contribute to the RBI’s net income and subsequent surplus transfer to the Central Government. 3. RBI’s foreign exchange market interventions and management are conducted under the framework of the Foreign Exchange Management Act (FEMA), 1999. Which of the statements given above are correct?