[amp_mcq option1=”RBI” option2=”Ministry of Finance” option3=”SBI” option4=”None of the above” correct=”option1″]
The correct answer is: A. RBI
The Reserve Bank of India (RBI) is the central bank of India. It was established on April 1, 1935, in accordance with the Reserve Bank of India Act, 1934. The RBI is the sole issuer of banknotes and coins in India. It also acts as the banker to the government of India and to the commercial banks in India.
The Ministry of Finance is the ministry of the Government of India responsible for the management of the Indian economy. The ministry is headed by the Finance Minister, who is a member of the Union Cabinet. The ministry is responsible for formulating and implementing the fiscal policy of the government, as well as for managing the public debt and the foreign exchange reserves of India.
The State Bank of India (SBI) is the largest state-owned banking and financial services company in India. It is the largest commercial bank in India by assets, deposits, loans, and number of branches. The SBI was founded in 1806 as the Bank of Calcutta, and it was renamed the State Bank of India in 1955. The SBI is headquartered in Mumbai, Maharashtra.
The answer is A. RBI because the RBI is the sole issuer of banknotes and coins in India.