Podcast
Questions and Answers
Why did the Reserve Bank of India shift to higher denomination notes?
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?
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?
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?
What is a reason for the gradual shift towards higher denomination notes mentioned in the text?
What was one of the main aims of the Clean Note Policy mentioned in the text?
What was one of the main aims of the Clean Note Policy mentioned in the text?
What is the purpose of the Currency Verification and Processing Systems (CVPS) mentioned in the text?
What is the purpose of the Currency Verification and Processing Systems (CVPS) mentioned in the text?
Why did RBI face a severe supply constraint of currency in the 1990s?
Why did RBI face a severe supply constraint of currency in the 1990s?
Which subsidiary of RBI was responsible for setting up modern printing presses for banknotes?
Which subsidiary of RBI was responsible for setting up modern printing presses for banknotes?
In which two Indian states were the modern printing presses for banknotes set up by BRBNMPL?
In which two Indian states were the modern printing presses for banknotes set up by BRBNMPL?
What makes BRBNMPL unique in the world of banknote printing according to the text?
What makes BRBNMPL unique in the world of banknote printing according to the text?
