The custodian of India’s foreign exchange reserve is__:
The custodian of India’s foreign exchange reserve is__:
[A]Department of Finance
[B]State Bank of India
[C]Reserve Bank of India
[D]Board of Financial Supervision
Reserve Bank of India
In 1946, India became a member of the International Monetary Fund (IMF) and from that time RBI has the responsibility of maintaining fixed exchange rates with all other member countries of the IMF. Apart from maintaining the rate of exchange of the rupee, RBI has to act as the custodian of India’s reserve of international currencies.