The capital of the Reserve Bank is fixed at:
AThree crores
BFive crores
CNine crores
DSeven crores
Answer & Solution
Correct answer: B. Five crores
1. The figure is set in the Act itself.
2. It has not changed since public ownership in 1949.
3. The capital is five crores of rupees.
_Source: The Reserve Bank of India Act, 1934 (India Code)_
Related questions
Which training institute is part of the Reserve Bank?Under 'Banker to banks', RBI maintains banking accounts of all:Coins are minted by the Government of India and put into circulation by:The Deposit Insurance and Credit Guarantee Corporation Act was passed in:The NABARD Act is of the year:The Regional Rural Banks Act was passed in:The Foreign Exchange Management Act, managed by RBI, is of the year:The Credit Information Companies (Regulation) Act was passed in: