What is minimum reserve system ?
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Printing of currency notes in India is
done on the basis of Minimum Reserve
System. This system is applicable in
India since 1956.
After maintaining the Minimum reserve the RBI can print any number of currency notes as per the requirement of the economy. Although RBI has to take prior permission from the government.
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Answer:The Minimum Reserve System is the currency issue system followed by the RBI at present. It was adopted in 1956. The Minimum Reserve System which requires the RBI to keep a minimum reserve of Rs 200 crores comprising foreign currencies, gold coin and gold bullion (minimum of Rs 115 crore in the form of gold).
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