RBI Functions – Custodian of Foreign Exchange

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41. The Reserve Bank of India (RBI) encourages and promotes the use of electronic channels for forex transactions by:

a) Facilitating and regulating online forex trading platforms

b) Promoting secure and efficient online remittance services

c) Supporting the development of digital currencies and blockchain technology

d) All of the above

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42. The Reserve Bank of India (RBI) conducts regular inspections and audits of forex operations and transactions carried out by:

a) Banks and financial institutions

b) Exporters and importers

c) Authorized dealers and money changers

d) All of the above

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43. The Reserve Bank of India (RBI) compiles and publishes information related to foreign exchange reserves and movements through:

a) The Handbook of Statistics on Indian Economy

b) Annual reports and financial statements

c) Periodic bulletins and research publications

d) All of the above

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44. The Reserve Bank of India (RBI) formulates and implements policies related to capital account convertibility (CAC) in collaboration with:

a) The Ministry of Finance, Government of India

b) The Securities and Exchange Board of India (SEBI)

c) The Foreign Exchange Dealers Association of India (FEDAI)

d) All of the above

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45. The Reserve Bank of India (RBI) plays a vital role in maintaining a stable external value of the domestic currency by:

a) Participating in the foreign exchange market as a buyer or seller of currencies

b) Adjusting the policy rates and reserve requirements for banks

c) Introducing and implementing forex interventions and controls

d) All of the above

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