CURRENT AFFAIRS

2019

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

Which Committee was set up by RBI to review the entire gamut of security of treasure in transit in 2016?

A	Committee to Review the ATM
B	Committee on Currency Movement
C	N K Singh Committee
D	Committee on Economic Capital Framework

Explanation:

Detailed explanation-1: -As stated in para 15 of the monetary policy statement dated October 04, 2016, the Bank had constituted a Committee on Currency Movement (CCM) [Chair: Shri D.K. Mohanty, Executive Director] to review the entire gamut of security of treasure in transit.

Detailed explanation-2: -The Reserve Bank of India (RBI) committee led by Bimal Jalan (former RBI governor) constituted for considering guidelines for transfer of central bank’s surplus funds to government delayed submitting its report after lack of consensus among its members.

Detailed explanation-3: -Detailed Solution Malegam would be heading the committee who is the former member of Central Board of Directors of RBI.

Detailed explanation-4: -When was the Goiporia Committee established? Answer: The Goiporia Committee was established in 1990.

Detailed explanation-5: -First, in order to impart liquidity to money market instruments and help the development of secondary market in such instruments, the Discount and Finance House of India (DFHI) was set up as a money market institution jointly by the Reserve Bank of India, public sector banks and financial institutions in 1988.

There is 1 question to complete.