UPSC Prelims 2000·GS1·economy·money and banking

Resurgent India Bonds were issued in US Dollar, Pound Sterling and

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Last updated 23 May 2026, 3:31 pm IST
  1. AJapanese Yen
  2. BDeutsche MarkCorrect
  3. CEuro
  4. DFrench Franc

Explanation

The Resurgent India Bonds were issued by the State Bank of India in 1998 to attract foreign currency investment from Non Resident Indians after India faced economic sanctions following the Pokhran nuclear tests. These bonds were denominated in three specific currencies: the US Dollar, the British Pound Sterling, and the Deutsche Mark. Option B is correct because the Deutsche Mark was the national currency of Germany at that time. It is important to note that the Euro had not yet been introduced as a physical currency for public use in 1998, which is why it was not one of the denominations used for these bonds.
economy: Resurgent India Bonds were issued in US Dollar, Pound Sterling and

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