- The Reserve Bank of India operates under the Minimum Reserve System (MRS) for the issue of currency notes, as per the RBI Act, 1934. - Under MRS, RBI is required to maintain a minimum reserve of ₹ 200 crores in total, consisting of gold coin and gold bullion, and foreign securities. - Out of this ₹ 200 crores, a minimum of ₹ 115 crores must be held in gold coin and gold bullion. The remaining ₹ 85 crores can be in the form of foreign securities.
Note issuing department of RBI should always possess a minimum gold stock worth
Asked in MPSC CS Prelims 2015 · Topic: Money & Banking (Reserve Bank of India (RBI): Role, Functions, and Autonomy)
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