2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 45
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Rs 55
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Rs 65
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Rs 35
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Detailed explanation-1: -(i) With effect from September 01, 2021, an incentive of ₹65/- per bag for distribution of coins (instead of ₹25/- as earlier) will be paid on the basis of net withdrawal from currency chest (CCs), without waiting for claims from banks.
Detailed explanation-2: -An additional incentive of ₹10/- per bag shall be paid for coin distribution in rural and semi-urban areas on the submission of a Concurrent Auditor (CA) certificate to this effect. iii.
Detailed explanation-3: -When the RBI decides to increase the Cash Reserve Ratio, the amount of money that is available with the banks reduces. This is the RBI’s way of controlling the excess flow of money in the economy.
Detailed explanation-4: -RBI has not prescribed any limit for coin deposits by customers with banks. Banks are free to accept any amount of coins from their customers. 4.
Detailed explanation-5: -The rate at which the RBI lends money to commercial banks is called Repo rate.