BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following are among the direct methods of exchange control in India?
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Intervention
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Exchange Restrictions
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Exchange Clearing Agreements
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All of the above
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Explanation:
Detailed explanation-1: -Direct Methods: These include intervention, exchange restriction, exchange clearing agreements and payments agreements.
Detailed explanation-2: -Important methods of exchange control are: (1) Intervention (2) Exchange Clearing Agreements (3) Blocked Accounts (4) Payment Agreements (5) Gold Policy (6) Rationing of Foreign Exchange (7) Multiple Exchange Rates.
Detailed explanation-3: -Reserve bank of India is the only authority who is authorized to issue currency in India. While coins are minted by Government of India (GoI), the RBI works as an agent of GoI for distributing and handling of coins.
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