The total liability of the monetary authority of the country, Reserve Bank of India, is called:
Answer
The correct answer is C: High powered money. High powered money, also called reserve money or monetary base, represents the total liabilities of the RBI, consisting of currency in circulation and deposits held by commercial banks with the RBI.
A.Cold cash
B.Hot money
C.High powered money✓ Correct
D.Grey money
Explanation
High powered money, also called reserve money or monetary base, represents the total liabilities of the RBI, consisting of currency in circulation and deposits held by commercial banks with the RBI.
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