Money and Economy

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Last updated 2:57 PM on 9/20/26
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12 Terms

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General Functions of Money

Medium of Exchange

Measure of Value

Store of Value

Means of Deferred Payments

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What is Velocity of Circulation

The number of times a unit of money is exchanged in a given period of time.

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Ultimate Authority of Money

Reserve Bank of India (RBI)

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RBI head

It's Governor

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RBI established when and where

1 April 1935 in Kolkata

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As per India Act, The headquarters of RBI was shifted to where and when

1937, Mumbai

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RBI was nationalised on

1949

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Functions of RBI

Printing and Issuing Currency

Banker's Bank

Controls the Supply of Money and Credit

Act as Government's Bank

Custodian of Foreign exchanges and services

Publications of Reports

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Repo Rate

The rate of interest charged by RBI on the loans taken by commercial banks from the RBI

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Reverse Repo Rate

The interest rate given by RBI on deposits by commercial banks

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Fiscal Policy

Fiscal Policy is the policy regarding taxation and government spending

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Monetary policy

Monetary policy is the policy regarding the supply of money and rate of interest