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SSC CHSL 2020 PYQ — Question 39

SSC CHSL - 15th October 2020 - Shift 1 • General Awareness • Q39

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Who among the following formulates the monetary policy in India?

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Correct answer: D

Explanation

The correct answer is option 4 i.e. Reserve Bank of India.

  • Monetary policy refers to the policy of the central bank with regard to the use of monetary instruments under its control to achieve the goals specified in the Act.
  • The Reserve Bank of India (RBI) is vested with the responsibility of conducting monetary policy. This responsibility is explicitly mandated under the Reserve Bank of India Act, of 1934.