GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Volume and value of banknotes to be printed each year is determined by -
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GDP growth
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Inflation rate
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Reserve Stock requirements
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All of the above
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Explanation:
Detailed explanation-1: -Who decides on the figure to be printed on a new banknote? As per Section 25 of the Reserve Bank of India (RBI) Act, the central government approves the design, form, and material of bank notes following recommendations made by Central Board.
Detailed explanation-2: -Two of the currency note printing presses are owned by the Government of India and two are owned by the Reserve Bank, through its wholly owned subsidiary, the Bharatiya Reserve Bank Note Mudran Ltd. (BRBNML). The government owned presses are at Nasik (Western India) and Dewas (Central India).
There is 1 question to complete.