2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which bank invested incremental reserves in US treasuries and other sovereign securities?
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SBI
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RBI
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BOB
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UCO Bank
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Explanation:
Detailed explanation-1: -RBI parks incremental reserves in US treasuries, other sovereign securities-The Economic Times.
Detailed explanation-2: -Table of Content. For currency issuance, the RBI presently employs the Minimum Reserve System. It was first used in 1956. The RBI is required by the Minimum Reserve System to keep a minimum reserve of an amount of about Rs 200 crores in foreign currency, gold bullion & gold coins.
Detailed explanation-3: -Foreign exchange intervention refers to efforts by central banks to stabilize a currency.
Detailed explanation-4: -The Reserve Bank of India (RBI) is India’s central bank, also known as the banker’s bank.
There is 1 question to complete.