Consider the following:

  1. Growth rate of the economy
  2. Replacement demand
  3. Reserve stock requirements
  4. Budget Allocations to various department

Which among the above are used by RBI to estimate the demand for banknotes?

[A] 1 & 2
[B] 1, 2 & 3
[C] 2 & 3
[D] 1, 2 & 4
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