BANKING GENERAL KNOWLEDGE
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Question
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Who among the following acts as agent of Government of India in respect of her membership of IMF?
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Ministry of Finance
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Reserve Bank of India
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SEBI
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NABARD
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Explanation:
Detailed explanation-1: -(a) It is a banker to the Central Government. (b) It formulates and administers monetary policy. (c) It acts as an agent of the Government in respect of India’s membership of IMF.
Detailed explanation-2: -State Bank to act as agent of the Reserve Bank | State Bank of India Act, 1955 | Bare Acts | Law Library | AdvocateKhoj.
Detailed explanation-3: -The monetary policy is a policy formulated by the central bank, i.e., RBI (Reserve Bank of India) and relates to the monetary matters of the country. The policy involves measures taken to regulate the supply of money, availability, and cost of credit in the economy.
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