The institution which controls purchases and sales of foreign exchange of India is _____.

International Monetary Fund

No worries! We‘ve got your back. Try BYJU‘S free classes today!

The Reserve Bank of India

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

The Finance Ministry of India

No worries! We‘ve got your back. Try BYJU‘S free classes today!

None of the above

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A The Reserve Bank of India
Reserve Bank has granted general permission under Sections 19(1)(d), 19(1)(a) and 29(1)(b) of the Foreign Exchange Regulation Act, 1973 to Indian companies for issue and exports of shares/securities to non-resident investors, and to non-resident investor to acquire shares/securities of Indian companies under various non-resident direct investment schemes.

Suggest Corrections

Similar questions

Q. The Finance Ministry, with the other banks, formulates a policy called monetary policy controlling the money supply in the economy.

Q. 49. Movements in the foreign exchange reserves of India occur on which of the following accounts?
1. Purchases and sales of foreign exchange by the RBI.
2. External aid receipts of the Central Government.
3. Revaluation of the assets.
Correct answer code is:

Q. Which bank controls the banking and monetary structure of India?

Q47) In a major revamp of the financial sector architecture, the finance ministry issued a fresh draft of the Indian Financial Code (IFC). Consider the following statements:

1) IFC envisages establishment of a financial regulatory architecture featuring seven agencies.

2) It proposed a monetary policy committee headed by the “chairperson” of the Reserve Bank of India to decide on key interest rates by a majority vote

3) According to IFC the central bank will function as the monetary authority, banking regulator and payment system regulator only

Which of the statement(s) given above is/are correct?

The Reserve Bank of India publishes its Monetary Policy Statement

Join BYJU'S Learning Program