2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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MHA
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RBI
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NABARD
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SEBI
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Detailed explanation-1: -The Reserve Bank of India (RBI) increased incentives for banks for the distribution of coins to the general public to ₹ 65 from ₹ 25 per bag.
Detailed explanation-2: -(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-3: -₹65 per bag for distribution of coins. ii. 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.
Detailed explanation-4: -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-5: -So, When CRR is increased, it decreases money supply, Increases interest rates on home loans, car loans etc. and in inter-bank market, Increases demand for money and decreases inflation.