Which of the following is/are functions of the RBI?begin{enumerate}item Acts as the currency authority.item Controls money supply and credit.item Manages foreign exchange.item Serves as a banker to the government.end{enumerate} Select the correct answer using the codes given below:

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which of the following is/are functions of the RBI?

A	1 and 2
B	2 and 3
C	1, 2, 3
D	All of these

Explanation:

Detailed explanation-1: -Issue of Currency Notes: The RBI has the sole right or authority or monopoly of issuing currency notes except one rupee note and coins of smaller denomination. These currency notes are legal tender issued by the RBI. Currently it is in denominations of Rs. 2, 5, 10, 20, 50, 100, 500, and 1, 000.

Detailed explanation-2: -Detailed Solution. The task of the Reserve Bank is to issue notes. It acts as a Government of India bank, bank of banks and controller of credit.

Detailed explanation-3: -Issuing of coins is not a function of the Central Bank.

There is 1 question to complete.