Who supervises the entire system of creation and circulation of money on behalf of the government?

Ministry of Finance

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Supreme Court

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Defence Ministry

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Reserve Bank of India

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Solution

The correct option is D Reserve Bank of India
The Reserve Bank of India (RBI) acts as the regulator and supervisor of the activities of commercial banks in India. Commercial banks also deposit a small portion of their deposits in the RBI, which is known as 'reserve'. Alongside the RBI, the government also has a role in regulating demand deposits.

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