Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
0 votes
49 views
in General by (237k points)
closed by
In India, the custodian of foreign exchange reserves of the country is:
1. Union Cabinet
2. Reserve Bank of India
3. State Bank of India
4. Union Finance Ministry

1 Answer

0 votes
by (239k points)
selected by
 
Best answer
Correct Answer - Option 2 : Reserve Bank of India

The correct answer is the Reserve Bank of India.

  • The Custodian of India’s foreign exchange reserves is the Reserve Bank of India.

  • It is responsible for managing and maintaining the country’s foreign exchange reserves.
  • Foreign exchange reserves are important for external trade and promote the growth of the country.
  • The legal laws regarding the Foreign Exchange Reserves are written down in the Reserve Bank of India Act,1934.
  • India's foreign reserve is mainly formed of the US Dollar in terms of bonds and 6.6% of the forex reserve is in terms of gold.

  • Establishment- 1 April 1935.
  • Governor- Sri Shakti Kant Das
  • Head Office- Mumbai

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...