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Officially, the Indian rupee has a market-determined exchange rate. However, the Reserve Bank of India trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollar is a de facto controlled exchange rate.
The government of Maharashtra is a democratically elected body in India with the Governor as its constitutional head who is appointed by the President of India for a five-year term. [151] The leader of the party or coalition with a majority in the Legislative Assembly is appointed as the chief minister by the governor, and the Council of ...
Top left: Rajendra Prasad was the first and longest-serving President of India. Top right: Zakir Husain was the first from a minority religion to become President of India. Bottom left: Pratibha Patil was the first female President of India. Bottom right: Droupadi Murmu is the youngest President and the first President from a tribal community.
The order of precedence of the Republic of India is a list in which the functionaries, dignitaries and officials are listed for ceremonial purposes and has no legal standing and does not reflect the Indian presidential line of succession or the co-equal status of the separation of powers under the Constitution of India.
The Ministry of Finance (IAST: Vitta Maṃtrālaya) is a ministry within the Government of India concerned with the economy of India, serving as the Treasury of India.In particular, it concerns itself with taxation, financial legislation, financial institutions, capital markets, currency regulation, banking service, centre and state finances, and the Union Budget.
Reserve Bank of India, abbreviated as RBI, is the central bank of India, and regulatory body responsible for regulation of the Indian banking system and Indian currency. Owned by the Ministry of Finance , Government of India , it is responsible for the control, issue, and maintenance of the supply of the Indian rupee.
The Governor of a state is appointed by the President of India for a term of five years and holds office during their pleasure. Only Indian citizens above 35 years of age are eligible for appointment to this office. Executive power of the state is vested in the Governor.
The Indian rupee was a silver-based currency during much of the 19th century, which had severe consequences on the standard value of the currency, as stronger economies were on the gold standard. During British rule, and the first decade of independence, the rupee was subdivided into 16 annas .