Identify which of the following statements is true?
(a) Statutory Liquidity Ratio is fixed by the government
(b) Government of India issues all the coins and ₹ 1 currency note
(c) Supply of currency notes are determined under fiscal policy
(d) Demand deposits are not payable through cheques
Ans – (b)
(a) Statutory Liquidity Ratio is fixed by the Central bank in the case of India by the Reserve Bank of India
(b) The Ministry of Finance of Government of India issues 1 rupee note and coins of all denominations
(c) Supply of currency notes is determined by RBI through monetary policy.
(d) Demand deposits are payable through cheques