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Indian economy miscellaneous

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Indian economy miscellaneous
  1. The present Indian monetary system is based on
    1. Gold Reserve System
    2. Proportional Reserve System
    3. Convertible Currency System
    4. Minimum Reserve System
Correct Option: D

Since 1957, the Reserve Bank of India is required to maintain gold and foreign exchange reserves of Rs. 200 crore, of which at least Rs. 115 crore should be in gold and Rs. 85 crore in the form of Government Securities. The system as it exists today is known as the minimum reserve system.


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