85-Role of RBI and Banks in Foreign Exchange Management

Banking Awareness Multiple Choice Questions (MCQs) and Answers with explanation on Role of RBI and Banks in Foreign Exchange Management for IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Bank

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1).
Who manages the Foreign Exchange control in India?
2).
Which of the following correctly define the Foreign Exchange (Forex) Market?
3).
Liberalized Exchange Rate Management System (LERMS) involving dual exchange rate mechanism was instituted on the recommendations of a high level committee. Who was the head of this committee?
4).
Which of the following best defines the meaning of Exchange rate?
5).
Which of the following is not the type of Exchange rates?
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