RBI MCQ Quiz

MCQ Quiz on RBI – Objective Question Answer for Reserve Bank of India

RBI MCQ Quiz – Get MCQ Quiz on RBI. The Reserve Bank of India is India’s central bank and regulatory body responsible for regulation of the Indian banking system. It was founded on 1 April 1935. RBI MCQ Questions are important for various competitive exams. Here we have covered the MCQ Question based on the Reserve Bank of India. Practice MCQ Quiz on RBI

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1. When was Reserve Bank of India established?

a.1920

b.1925

c.1948

d.1935

2. Original headquarters of RBI were located at ___?

a.Calcutta

b.New Delhi

c.Madaras

d.Bombay

3. Which of the following is not the work of RBI?

a.Allocating funds directly to the farmers for agricultural developmen

b.Custodian of foreign currency

c.Credit controller

d.Bank of the banks

4. The Bill of discounting for the first time was introduced by RBI in the year

a.1980

b.2004

c.1952

d.1970

5. When was the Imperial Bank Changed as State Bank of India?

a.July 1st 1955

b.Feb 26 1947

c.July 1st 1959

d.January 1st 1935

6. The term of Appointment of RBI Governor is

a.10 years

b.1 year

c.4 years

d.5 years

7. On which commission’s recommendations; Reserve Bank of India was established?

a.Keynes Commision

b.Hilton Young Commission

c.None of the Above

d.Chamberlain Commission

8. In which year the RBI adopted the minimum reserves system of note issue?

a.1935

b.1956

c.1921

d.1934

9. Who appointed the Governor and the deputy governor of RBI

a.Staff Selection Commission

b.Finance Minister

c.The State Government

d.The Central Government

10. Who was first governor of Reserve Bank of India?

a.A.K. Vadia

b.V.K. Malhotra

c.K.A. Narasimham

d.A.B.A Smith

11. When was R.B.I. nationalised?

a.1929

b.1935

c.1914

d.1949

12. How many local Boards are there in the Organizations structures of RBI?

a.One

b.Four

c.Three

d.Two

13. Regional Rural Banks were established in the year -

a.1972

b.1975

c.1969

d.1973

14. Head office of RBI is located in:

a.Mumbai

b.Delhi

c.Kolkata

d.Chennai

15. When was Lead Bank Scheme introduced?

a.1969

b.1968

c.1974

d.1967

16. What are the principles of issuing notes?

a.All of the above

b.Elasticity

c.Uniformity

d.Security

17. Which principle is followed to constitute various departments in RBI?

a.Functional Specialisation

b.Functional Foremanship

c.Military Organisation

d.Divisional Structure

18. In which year, Nationalization of Reserve Bank of India was done?

a.1950

b.1947

c.1949

d.1948

19. Which of the following words is not used in Monetary Policy?

a.Blue Chip

b.Repo Rate

c.Cash Reserve ratio

d.Bank rate

20. Who will act as the banker to the Government of India?

a.Nationalised Banks

b.State Bank of India

c.Reserve Bank of India

d.NABARD

21. In order to inject money into the economy, what does RBI do?

a.All of the above

b.Decrease in Repo Rate

c.Reduction in CRR and SLR

d.Purchase of Securities in Open Market

22. Coins are minted by the __________ according to the Coinage Act,1906 and Coinage Act,2011

a.RBI

b.Government of India

c.Both of the above

d.By resoective banks

23. Bank rate is decided by which of the following?

a.Reserve Bank of India

b.Government of India

c.Securities and Exchange Board of India

d.State Bank of India

24. Repo rate is the rate at which RBI lends to scheduled commercial banks for:

a.Very Long term purpose

b.Medium term purpose

c.Short term purpose

25. How long does the accounting year of the Reserve Bank of India come from?

a. January 1 to December 31

b.1st April to 30th March

c.1st July to 1st June

d.1st July to 30th June

26. Credit authorization scheme was introduced by RBI in:

a.1969

b.1949

c.1935

d.1965

27. Which section of RBI Act states that the RBI has the exclusive rights to issue currency notes in India?

a.19

b.22

c.21

d.17

28. The share of State Govt in the capital of Regional Rural Bank is

a.35%

b.25%

c.50%

d.15%

29. Which of the following is not the function of the Reverse Bank of India?

a.Issuing of one rupee notes and coins

b.Keeping of Foreign Exchange Reserve

c.Regulating credit in the country

d.Acting as bankers to the Government

30. The RBI issued currency for the first time in January 1938 when it issued currency of ________with the photo of George VI on it.

a.Rs.20

b.Rs.10

c.Rs.5

d.Rs.1

31. Who gave the Rupee symbol?

a.C. Mukherjee

b.Rajeev Shukla

c.Venkat Subramaniam

d.Uday Kumar

32. What is CRR?

a.Current Ration Rate

b.Credit Rating Record

c.Review Report

d.Cash Reserve ratio

33. Which department of the RBI is responsible for issuing currency notes?

a.The Loan Department

b.Advisory Committee

c.The issue Department

d.The Agricultural Department

34. When was the second phase of nationalisation done

a.10th July 1968

b.9th July 1969

c.16th August 1985

d.15th April, 1980

35. In which year the RBI act was passed?

a.1921

b.1969

c.1934

d.1955

36. On which date, RBI started working?

a.1st January 1934

b.31st March 1934

c.1st January 1935

d.1st April 1935

37. Who mints the coins in India?

a.Commerce and Industry Ministry

b.Reserve Bank of India

c.Ministry of Finance

d.Prime Minister's Office

38. Who was the first governor of Reserve Bank of India from Indian origin?

a.C.Rajagopalachari

b.Osborne Smith

c.C.D. Deshmukh

d.L.K. Jha

39. Who signs on the Rs. 1 note?

a.RBI Governor

b.Finance Minister

c.Prime Minister

d.Finance Secretary

40. The RBI prints all the currency notes except the ______ currency note

a.One Rupee

b.Ten Rupee

c.Five Rupee

d.Two Rupee

41. What was the initial share capital of Reserve Bank of India?

a.Rs. 10 Crore

b.Rs. 15 Crore

c.Rs. 20 Crore

d.Rs. 5 Crore

42. When was Indian Banking Act come into force?

a.1949

b.1951

c.1950

d.1948

43. Thw RBI was originally setup a ____

a.Public Bank

b.Private Bank

c.Merchant Bank

d.Development Bank

44. The largest revenue in India is obtained from

a.Direct Taxes

b.Excise Duty

c.Railways

d.Sales Tax

45. What is the period for the bank rate of RBI to issue loan for banks?

a.3 years

b.10 years

c.20 years

d.5 years

46. How many members are there in the Central Board of the director of the RBI?

a.20

b.100

c.10

d.5

47. The four printing press of Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL) that print currency are located in- 1. Mysore, 2.Salboni (West Bengal), 3.Dewas (MP), 4.Nasik

a.all are correct

b.1,3 and 4

c.1 and 2

d.2 and 4

48. On which commission’s recommendations; Reserve Bank of India was established?

a.Chamberlain Commission

b.Hilton Young Commission

c.British Raj

d.Narasimham-II Committee