उच्च शक्ती पैसा म्हणजे काय ?
(a) मध्यवर्ती बँके कडील बँकांचा राखीव निधी
(b) बँकांची सर्व कर्जे आणि उचल
(c) बँकांनी धारण केलेला पैसा
(d) लोकांच्या हातातील पैसा आणि मध्यवर्ती बँकेकडील राखीव निधी, बँकांकडील अतिरीक्त राखीव निधी.
योग्य पर्याय निवडा :
(1) (a) आणि (b)
(2) (b) फक्त
(3) (c) आणि (d)
(4) (d) फक्त

The correct answer is Option D ((d) only).

Key Points:
• Core Concept
• High-Powered Money (denoted as H or Reserve Money / Base Money M₀) is the monetary base produced directly by the central bank and the government.
• Why Correct
• High-powered money consists of currency in circulation held by the public (C) plus total commercial bank reserves held with the central bank and vault cash (R).
• Mathematically: H = C + R, where R comprises required cash reserves and excess reserves of banks.
• Statement (d) captures this definition completely.
• Key Details
• High-powered money serves as the foundation for broader credit expansion through the commercial banking money multiplier mechanism (M = m imes H).
• Exam Traps
• Statements (a) and (c) represent isolated sub-components, whereas bank loans (b) are secondary credit created by commercial banks, not primary high-powered money.
• Other Options
• Since statement (d) is comprehensive and singular, Option 4 ('(d) only') is correct.
• Key Takeaway: High-Powered Money (H) consists of currency held by the public plus total bank reserves with the central bank.