The function of the Reserve Bank of India are:

1. Issuing all notes and coins
2. Distributing all notes and coins
3. Formulating monetary policy
4. Acting as agent of Government in respect of India’s membership of the IMF

Select the correct answer using the codes given below.
a) 1, 3 and 4
b) 2 and 3
c) 2, 3 and 4
d) 1, 2, 3 and 4

Ans- c

Explanation-All coins and one rupee note is printed by GoI. In fact GoI has the sole right to mint coins. Therefore option 1 is wrong. We can eliminate option a and option d.

Formulating monetary policy is one of the prime function of the RBI or any central bank of country. Distribution of all currency is done by RBI.

RBI also acts as an agent of GoI in respect of membership of the IMF. You can read RBI functions here.

Department of External Investments and Operations of RBI handles external transactions on behalf of GoI including transactions relating to International Monetary Fund (IMF). Thus option 4 is also correct.

Hence ans is option c