BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Department of Finance
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State Bank of India
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Reserve Bank of India
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Board of Financial Supervision
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Detailed explanation-1: -Detailed Solution. The correct answer is the Reserve Bank of India. The Custodian of India’s foreign exchange reserves is the Reserve Bank of India.
Detailed explanation-2: -Answer: the RBI is the custodian of the foreign exchange reserves of India. Answer: India’s total Forex reserves stand at around US$634.287 Billion on 31st January 2022.
Detailed explanation-3: -The Central bank exercises control over the foreign reserves to meet the deficit in the balance of payments and to maintain the international liquidity.
Detailed explanation-4: -India’s foreign exchange reserves are mainly composed of US dollar in the forms of US government bonds and institutional bonds. with nearly 7.34% of forex reserves in gold. The FCAs also include investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks.