85-Role of RBI and Banks in Foreign Exchange Management

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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?
6).
Foreign Exchange is also called as which of the following?
7).
According to FERA ,Foreign Exchange includes which of the following?
8).
How many banks are there in India which have been authorized to deal in Foreign Exchange ?
9).
What is the full form of FEDAI?
10).
What does the term FX future stands for?
11).
In investing its Foreign Assets ,RBI is guided by three principles .Which of the following are those principles?
12).
What is the full form of MDER?
13).
Any act of interference by a Central Bank like the RBI in influencing the exchange rate is referred to as which of the following in India?
14).
Who are authorized to sell Foreign Exchange in India?
15).
What is the full form of NDF?
16).
According to International Monetary Fund, the countries with Foreign exchange controls are known by which of the following names?
17).
Liberalized Exchange Rate Management System (LERMS) is effective from which of the following dates?
18).
The Reserve Bank of India governs the foreign exchange reserves under the legal provisions of which of the following Acts?
19).
What is the full form of LRS?
20).
Which of the following are among the direct methods of exchange control in India?
1. Who manages the Foreign Exchange control in India?
[A] RBI
[B] SEBI
[C] NABARD
[D] Central Government
2. Which of the following correctly define the Foreign Exchange (Forex) Market?
[A] It is a market where only Foreign currency is used.
[B] It is a market where foreign currencies are bought and sold simultaneously.
[C] It is a physical market where only foreigners are allowed.
[D] None of the Above
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?
[A] Dr. C. Rangarajan
[B] Urjit Patel
[C] Nandan Nilekani
[D] None of the Above
4. Which of the following best defines the meaning of Exchange rate?
[A] It is a price at which Foreign money is exchanged at counters.
[B] It is the price at which one country’s currency is expressed in another country’s currency.
[C] It is the price at which Foreign materials are purchased or sold.
[D] All of the above
5. Which of the following is not the type of Exchange rates?
[A] Ready
[B] Value Tom
[C] Backward Transaction
[D] Forward Transaction
6. Foreign Exchange is also called as which of the following?
[A] Domestic Monetary Unit
[B] Foreign Monetary Unit
[C] International Monetary Unit
[D] None of the Above
7. According to FERA ,Foreign Exchange includes which of the following?
[A] Traveler’s Cheque
[B] Letters of Credit
[C] Bill of Exchange expressed or drawn in Indian Currency
[D] All of the above
8. How many banks are there in India which have been authorized to deal in Foreign Exchange ?
[A] 64
[B] 82
[C] 92
[D] 107
9. What is the full form of FEDAI?
[A] Foreign Exchange Dealers Agency of India
[B] Foreign Exchange Detailed Authority of India
[C] Foreign Exchange Dealers Association of India
[D] None of the Above
10. What does the term FX future stands for?
[A] It is a future contract to exchange one currency for another at a specified date in future.
[B] It is also known as Currency Future.
[C] The exchange rate is fixed on purchased date.
[D] All of the above
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