Who manages the present monetary system in India ?

Central Bank of India
Reserve Bank of India
Finance Ministry
Prime Minister

The correct answer is (b), Reserve Bank of India.

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 banker to the government of India and the banker’s bank. It is also the issuer of the Indian rupee.

The RBI’s main objectives are to:

  • Maintain price stability
  • Promote economic growth
  • Ensure financial stability
  • Regulate the financial system
  • Provide financial services to the government and to the public

The RBI is governed by a central board of directors, which is appointed by the government of India. The RBI’s headquarters is in Mumbai.

The other options are incorrect because:

  • The Central Bank of India is a defunct bank that was established in 1876. It was merged with the Reserve Bank of India in 1935.
  • The Finance Ministry is a ministry of the government of India that is responsible for the formulation and implementation of the country’s financial policies.
  • The Prime Minister is the head of government of India. He/She is not responsible for managing the country’s monetary system.