McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Commerce (B Com) .
Chapters
| 1. |
The Reserve Bank of India was established on _______. |
| A. | April 1, 1935 |
| B. | July 12, 1982 |
| C. | May 26, 2006 |
| D. | September 30, 2005 |
| Answer» A. April 1, 1935 | |
| 2. |
Which among the following is incorrect? |
| A. | RBI is the Bank of Issue |
| B. | RBI acts as Banker to the Government |
| C. | RBI is Banker's Bank |
| D. | RBI does not regulate the flow of credit |
| Answer» D. RBI does not regulate the flow of credit | |
| 3. |
RBI provides the Ways and Means Advances to whom? |
| A. | Central Government |
| B. | State Government |
| C. | Commercial Banks |
| D. | All of these |
| Answer» B. State Government | |
| 4. |
Who was the first Indian Governor of RBI? |
| A. | Kuldeep Pathak |
| B. | Dr. Rajyavardhan Sharma |
| C. | Sir Mukund Khanna |
| D. | Sir C.D. Deshmukh |
| Answer» D. Sir C.D. Deshmukh | |
| 5. |
Which is not a function of RBI? |
| A. | Holding cash reserves of all commercial banks and make available financial accommodation to them |
| B. | Assuming responsibility of all banking operations of the government |
| C. | Assuming the responsibility of the statistical analysis of data related to macro economy of India |
| D. | Assuming the responsibility to meet directly or indirectly all reasonable demands for the accommodation |
| Answer» C. Assuming the responsibility of the statistical analysis of data related to macro economy of India | |
| 6. |
Which of the following statements is/are not true about RBI? |
| A. | RBI is the Bank of Issue. |
| B. | RBI acts as the Banker of the Government. |
| C. | RBI is known as the Banker's Bank. |
| D. | RBI does not regulate the credit flow. |
| Answer» D. RBI does not regulate the credit flow. | |
| 7. |
The Government picked up the entire Share of SBI held by the RBI according to which of the following guidelines? |
| A. | Securities Commission |
| B. | SEBI |
| C. | National Stock Exchange of India |
| D. | Financial Regulations |
| Answer» B. SEBI | |
| 8. |
Which of the following Governors of RBI also served as the Finance Minister of India? |
| A. | Pranav Mukherjee |
| B. | Amitabha Ghosh |
| C. | Sir Benegal Rama Rau |
| D. | Dr. Manmohan Singh |
| Answer» D. Dr. Manmohan Singh | |
| 9. |
In which of the following cities, the regional headquarters of RBI is not situated? |
| A. | New Delhi |
| B. | Mumbai |
| C. | Bengaluru |
| D. | Kolkata |
| Answer» C. Bengaluru | |
| 10. |
Which among the following would not help RBI to control the inflation in the country? |
| A. | Increase in Reserve Ratio Requirements |
| B. | Increase in Bank Rate |
| C. | Purchase of securities in open market |
| D. | Increase in Repo Rate |
| Answer» C. Purchase of securities in open market | |
| 11. |
How many zonal training centers of RBI are there in India? |
| A. | 2 |
| B. | 3 |
| C. | 4 |
| D. | 5 |
| Answer» C. 4 | |
| 12. |
In which year the nationalization of RBI was occurred? |
| A. | 1947 |
| B. | 1949 |
| C. | 1951 |
| D. | 1953 |
| Answer» B. 1949 | |
| 13. |
The logo of RBI consists of which animal? |
| A. | Elephant |
| B. | Panther |
| C. | Black Buck |
| D. | Lion |
| Answer» B. Panther | |
| 14. |
In which year the head quarter of RBI is moved from Kolkata to Mumbai (Then Bombay)? |
| A. | 1936 |
| B. | 1937 |
| C. | 1938 |
| D. | 1939 |
| Answer» B. 1937 | |
| 15. |
Who was the first Governor of RBI? |
| A. | David Warner |
| B. | Sir Phillip Smith |
| C. | James Watson |
| D. | Sir Osborne Smith |
| Answer» D. Sir Osborne Smith | |
| 16. |
Which statement is not true regarding RBI? |
| A. | It is the Central Bank of India. |
| B. | It was established in 1935. |
| C. | It can issue currency notes. |
| D. | Personal account can be opened in RBI. |
| Answer» D. Personal account can be opened in RBI. | |
| 17. |
Which of the following is/ are the Quantitative Instrument of RBI? |
| A. | CRR |
| B. | Bank Rate Policy |
| C. | SLR |
| D. | All of these |
| Answer» D. All of these | |
| 18. |
RBI has withdrawn the circulation of coins in the denomination of 1 paise, 2 paise, 3 paise, 5 paise, 10 paise, 20 paise and 25 paise in which year? |
| A. | 2010 |
| B. | 2011 |
| C. | 2012 |
| D. | 2013 |
| Answer» B. 2011 | |
| 19. |
Which of the following coins is not issued by the RBI? |
| A. | Re. 1 |
| B. | Rs. 2 |
| C. | Rs. 5 |
| D. | Rs. 10 |
| Answer» A. Re. 1 | |
| 20. |
According to which section of the RBI Act of 1934, RBI is liable to pay the value of banknote to its holder? |
| A. | Section 22 |
| B. | Section 24 |
| C. | Section 26 |
| D. | Section 28 |
| Answer» C. Section 26 | |
| 21. |
Which of the following factors is/ are considered by the RBI to determine the number of notes to be issued by it? |
| A. | GDP Growth |
| B. | Inflation |
| C. | Replacement of soiled banknotes |
| D. | All of these |
| Answer» D. All of these | |
| 22. |
When did the Government appoint for transfer of stake? |
| A. | 29 June |
| B. | 26 May |
| C. | 5 April |
| D. | 1 April |
| Answer» A. 29 June | |
| 23. |
India is a member of the International Monetary Fund since _____. |
| A. | 1934 |
| B. | 1935 |
| C. | 1947 |
| D. | 1949 |
| Answer» C. 1947 | |
| 24. |
Who works as RBI's agent at places where it has no office of its own? |
| A. | State Bank of India |
| B. | Ministry of Finance |
| C. | Government of India |
| D. | International Monetary Fund |
| Answer» A. State Bank of India | |
| 25. |
Who mints the coins in India? |
| A. | Ministry of Finance |
| B. | Reserve Bank of India |
| C. | Prime Minister's Office |
| D. | Commerce and Industry Ministry |
| Answer» A. Ministry of Finance | |
| 26. |
RBI known as lender of last resort because: |
| A. | It has to meet the credit need of citizens to whom no one else is willing to lend |
| B. | Banks lend to go to RBI as a last resort |
| C. | It comes to help banks in times of crisis |
| D. | All of the above |
| Answer» C. It comes to help banks in times of crisis | |
| 27. |
What does Deficit financing mean? |
| A. | Government of India borrows from World Bank |
| B. | Government of India borrows from IMF |
| C. | Government of India borrows from SBI |
| D. | Government of India borrows from RBI |
| Answer» D. Government of India borrows from RBI | |
| 28. |
Which is incorrect with regard to powers of RBI: |
| A. | Holds cash reserve banks |
| B. | Controls banking system through licensing |
| C. | Supervises Banking system through inspection |
| D. | None of the above |
| Answer» D. None of the above | |
| 29. |
Which of the following term is not used in the Formation of Monetary Policy? |
| A. | Cash Reserve Ratio |
| B. | Repo Rate |
| C. | Bank Rate |
| D. | Blue chip |
| Answer» D. Blue chip | |
| 30. |
Which of the following sentence is not correct? |
| A. | RBI was nationalized on January 1, 1935. |
| B. | RBI’s head quarter is in Delhi |
| C. | RBI is the custodian of the foreign currency in India |
| D. | all of the mentioned |
| Answer» A. RBI was nationalized on January 1, 1935. | |
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