St. Mira's College SYBCOM Banking & Finance Unit 2 Quiz
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Questions and Answers

Why did the Reserve Bank of India shift to higher denomination notes?

  • Smaller denominations involve high volume and low value, posing challenges in currency management. (correct)
  • Advanced technology for printing was only available for higher denomination notes.
  • There was a surplus of smaller denominations and a shortage of higher denominations in circulation.
  • Higher denomination notes are easier to transport and provide better security measures.

    • Which department of the RBI needed reforms according to the text?

  • Audit Department
  • Issue Department (correct)
  • Research Department
  • Legal Department

    • What was one of the limitations the Reserve Bank faced in printing new currency?

  • Currency notes getting damaged during the printing process.
  • Absence of security features in currency notes.
  • A surplus of currency notes in circulation.
  • Lack of capacity in the existing printing presses. (correct)

    • What is a reason for the gradual shift towards higher denomination notes mentioned in the text?

    <p>Security and transport issues with smaller denominations.</p> Signup and view all the answers

    What was one of the main aims of the Clean Note Policy mentioned in the text?

    <p>To introduce new security features in currency printing.</p> Signup and view all the answers

    What is the purpose of the Currency Verification and Processing Systems (CVPS) mentioned in the text?

    <p>To sort currency notes into usable and non-usable categories.</p> Signup and view all the answers

    Why did RBI face a severe supply constraint of currency in the 1990s?

    <p>Due to poor/low capacity of note printing.</p> Signup and view all the answers

    Which subsidiary of RBI was responsible for setting up modern printing presses for banknotes?

    <p>Bharatiya Reserve Bank Notes Mudran Private Ltd. (BRBNMPL)</p> Signup and view all the answers

    In which two Indian states were the modern printing presses for banknotes set up by BRBNMPL?

    <p>Karnataka and Maharashtra</p> Signup and view all the answers

    What makes BRBNMPL unique in the world of banknote printing according to the text?

    <p>It was awarded the ISO 9001-2000 Certification.</p> Signup and view all the answers

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