Rs. 200 bank cheque is NOT an example of fiat money in India.
Fiat money is government-issued currency that is not backed by a physical commodity but rather by the trust that people and governments have that parties will accept that currency.
Cheques are financial instruments and not considered fiat money.
English
80 Questions
160 Marks
60 Mins English English20 Questions40 Marks12 Mins English English80 Questions160 Marks60 Mins EnglishThe Monetary Policy Committee (MPC) was established to formalise inflation targeting. How many members constitute India’s MPC?
Which among the following is defined as the minimum interest rate of a bank below which it cannot lend, except in some cases allowed by the RBI?
Which among the following is not a method adopted by the RBI to maintain liquidity in the economy?
Given below are two statements:
Statement I: The Wholesale Price Index (WPI) is the main measure of inflation currently used by the Reserve Bank of India to set monetary policy.
Statement II: Since 2016, CPI-Combined has been adopted as the nominal anchor for India's inflation targeting framework.
In the light of the above statements, choose the correct answer from the options given below:
With whom is the Cash Reserve Ratio (CRR) kept?
Which of the following statements is correct about the Chairperson of the Monetary Policy Committee of India, which was reconstituted by the Government of India in October 2024?
RBI publishes figures for four alternative measures of money supply, viz. M1, M2, M3 and M4. In this context which of the following is called as narrow money?
Which of the following formulates, implements and monitors the monetary policy in India?
Assume that the value of the cash reserve ratio is 25%. What will be the value of money multiplier?
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