In July 1969, 14 major Indian scheduled banks were nationalised and 6 more banks were nationalised in

Related MCQs

• The commercial banks were required to keep some percentages of their time deposits and their demand deposits with the RBI in the form of reserves is known as
• The reserves held by the Commercial Banks over and above the statutory minimum with the RBI are called
• Which of the following is true that RBI as a banker to the government (i) Maintaining and operating deposit accounts of Central and State Governments. (ii) Receipt and collection of payments to the Central and State Governments. (iii) Making payments on behalf of Central and state Governments. (iv) Providing ways and means advances to the Central and State Governments.
• Which of the following is true about the restrictions on RBI? (i) It is not to compete with the commercial banks. (ii) It is not allowed to pay interest on its deposits. (iii) It cannot engage directly or indirectly in trade. (iv) It cannot acquire or advice loans against immovable property. (v) It is prohibited from purchasing its own shares or the shares of any other bank or any company or granting loans on such security.
• Which of the following is true about the functions performed by RBI - (i) It is the Bank of Issue (ii) It acts as banker to the Government (iii) It is the banker of other banks (iv) It regulates the flow of credit
• What would be the impact on cash reserves of the commercial banks if RBI conducts the sale of securities?
• The recent conversion of Financial Institutions into Commercial Banks or Non-Banking Finance Companies (NBFCs) under the regulatory aspect of RBI was suggested by
• Commercial banks create
• Which movement encourage the formation of commercial banks
• The commercial banks in India are governed by