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Note issuing department of RBI should always possess a minimum gold stock worth
1. Rs. 85 crores
2. Rs. 115 crores
3. Rs. 200 crores
4. None of the above

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Correct Answer - Option 2 : Rs. 115 crores

The correct answer is 115 crores.

  • Printing of currency notes in India is done on the basis of the Minimum Reserve System(MRS).
  • The MRS system is applicable in India since 1956.
  • Under the Minimum Reserve System(MRS), the RBI has to keep a minimum reserve of Rs 200 crore comprising of gold coin and gold bullion, and foreign currencies for note-issuing.
  • Out of the total Rs 200 crores
    • Rs 115 crore should be in the form of gold coins or gold bullion.
    • Rest 85 cr. should be in the form of foreign currencies.

  • The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
  • Though originally privately owned, since nationalization in 1949, the Reserve Bank is fully owned by the Government of India.

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