UPSC CSE Prelims 2001 Q54 — Indian Economy PYQ with Answer

Consider the following statements regarding Reserve Bank of India:

I. It is a banker to the Central Government.

II. It formulates and administers monetary policy.

III. It acts as an agent of the Government in respect of India’s membership of IMF.

IV. It handles the borrowing programme of Government of India.

Which of these statements are correct?