The State Bank of Pakistan commenced its operations on July 1, 1948, with an initial capital reserve of Rs:________?
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Answer: B. Thirty Millions
Explanation
Newly independent states must establish central financial institutions to manage monetary policy. The central bank of the nation was inaugurated shortly after independence. Operations commenced on July 1, 1948, with an initial capital reserve of thirty million rupees. Central banks regulate commercial banking sectors and issue national currency notes and coins. Initial capital reserves provide the necessary financial backing for early institutional operations. Monetary authorities manage foreign exchange reserves and set benchmark interest rates.
Economic sovereignty requires a functional central bank capable of managing national finances independently. Financial historians study the early balance sheets of the central bank during post-independence rebuilding. Banking regulations established by the institution protect depositors and ensure financial stability. Twenty millions underestimates the authorized initial capital reserve amount specified in records. Twenty billions is an unrealistically high figure for post-independence financial institutions. Thirty billions exceeds the monetary scale of that historical era's initial capital figures.
- Subject
- Pakistan Studies
- Category
- Pakistan Studies
- Topic
- —
- Difficulty
- medium
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