Discussion
RBI is a member of which of the following ?
Answer: D
Correct answer: Both A and B
The Reserve Bank is a member of the Asian Clearing Union, the arrangement through which participating central banks settle intra-regional trade payments in a common unit, economising on hard currency.
India is also a member of the International Monetary Fund, and the RBI is the designated fiscal agency and depository for the Fund's dealings with India. The Commonwealth Bank of Australia is a commercial bank, not a body a central bank could be a member of - the name's resemblance to a public institution is a historical relic.
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