Which of the following statements is true about the Indian monetary system?

CA Foundation · Business Economics · RTP · May 2025
Which of the following statements is true about the Indian monetary system?
(A) A. The Indian monetary system is based on the gold standard
(B) B. The Indian monetary system is based on the credit money standard
(C) C. The Indian monetary system is based on the paper standard
(D) D. None of these

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. The Indian monetary system is based on the paper standard

Topics: Money Market

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