McqMate
| Q. |
Why reserve bank of India is called custodian of foreign balances of the country? |
| A. | because government delegates RBI to redistribute the foreign currencies in India |
| B. | because RBI maintains both gold and foreign currencies as reserves against note issues |
| C. | because RBI is delegated by the Government to absorb all the foreign currency in India |
| D. | b and c |
| E. | None of the above |
| Answer» B. because RBI maintains both gold and foreign currencies as reserves against note issues | |
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