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UPSC Economics Business and Foreign Trade / व्यापार और विदेश व्यापार Question Bank Money Supply and Indian Financial System

  • question_answer
          Consider the following statements:
    1. In Minimum Reserve System, RBI had to keep a minimum reserve of Gold worth Rs. 115 Crores and rest in Indian Rupees.
    2. The Minimum Requirement of Foreign Securities was diluted when Minimum Reserve System was launched.
    Which among the above statement is / are correct?

    A) Only 1 is correct

    B) Only 2 is correct

    C) Both of them are correct

    D) Both of them are incorrect

    Correct Answer: C

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