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

a.Narasimham-II Committee

b.British Raj

c.Hilton Young Commission

d.Chamberlain Commission

2. When was Indian Banking Act come into force?

a.1949

b.1950

c.1948

d.1951

3. 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

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

a.1948

b.1949

c.1947

d.1950

5. Who mints the coins in India?

a.Prime Minister's Office

b.Ministry of Finance

c.Reserve Bank of India

d.Commerce and Industry Ministry

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

a.Nationalised Banks

b.NABARD

c.Reserve Bank of India

d.State Bank of India

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

a.The Agricultural Department

b.Advisory Committee

c.The issue Department

d.The Loan Department

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

a.1970

b.1980

c.2004

d.1952

9. On which date, RBI started working?

a.31st March 1934

b.1st April 1935

c.1st January 1935

d.1st January 1934

10. When was Lead Bank Scheme introduced?

a.1969

b.1974

c.1967

d.1968

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

a.The Central Government

b.Finance Minister

c.Staff Selection Commission

d.The State Government

12. Regional Rural Banks were established in the year -

a.1969

b.1972

c.1975

d.1973

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

a.Four

b.One

c.Three

d.Two

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

a.Government of India

b.Reserve Bank of India

c.Securities and Exchange Board of India

d.State Bank of India

15. Head office of RBI is located in:

a.Mumbai

b.Chennai

c.Delhi

d.Kolkata

16. Credit authorization scheme was introduced by RBI in:

a.1935

b.1965

c.1949

d.1969

17. Thw RBI was originally setup a ____

a.Public Bank

b.Merchant Bank

c.Development Bank

d.Private Bank

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

a.17

b.21

c.22

d.19

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

a.1914

b.1949

c.1935

d.1929

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

a.Feb 26 1947

b.July 1st 1959

c.July 1st 1955

d.January 1st 1935

21. In which year the RBI act was passed?

a.1934

b.1921

c.1955

d.1969

22. What is CRR?

a.Current Ration Rate

b.Credit Rating Record

c.Cash Reserve ratio

d.Review Report

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

a.1956

b.1921

c.1935

d.1934

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

a.Functional Foremanship

b.Divisional Structure

c.Functional Specialisation

d.Military Organisation

25. When was Reserve Bank of India established?

a.1935

b.1920

c.1925

d.1948

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

a.25%

b.35%

c.50%

d.15%

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

a.RBI

b.Both of the above

c.By resoective banks

d.Government of India

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

a.Bank rate

b.Repo Rate

c.Blue Chip

d.Cash Reserve ratio

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

a.5

b.20

c.100

d.10

30. Who signs on the Rs. 1 note?

a.RBI Governor

b.Finance Secretary

c.Finance Minister

d.Prime Minister

31. What are the principles of issuing notes?

a.Uniformity

b.All of the above

c.Elasticity

d.Security

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

a.Custodian of foreign currency

b.Bank of the banks

c.Allocating funds directly to the farmers for agricultural developmen

d.Credit controller

33. Original headquarters of RBI were located at ___?

a.Bombay

b.New Delhi

c.Calcutta

d.Madaras

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

a.1st April to 30th March

b.1st July to 1st June

c. January 1 to December 31

d.1st July to 30th June

35. When was the second phase of nationalisation done

a.16th August 1985

b.15th April, 1980

c.9th July 1969

d.10th July 1968

36. 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

37. 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.1

c.Rs.10

d.Rs.5

38. Who gave the Rupee symbol?

a.Uday Kumar

b.Venkat Subramaniam

c.Rajeev Shukla

d.C. Mukherjee

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

a.5 years

b.3 years

c.10 years

d.20 years

40. 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.1,3 and 4

b.2 and 4

c.all are correct

d.1 and 2

41. The largest revenue in India is obtained from

a.Direct Taxes

b.Sales Tax

c.Railways

d.Excise Duty

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

a.A.K. Vadia

b.K.A. Narasimham

c.V.K. Malhotra

d.A.B.A Smith

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

a.None of the Above

b.Keynes Commision

c.Hilton Young Commission

d.Chamberlain Commission

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

a.Five Rupee

b.Two Rupee

c.Ten Rupee

d.One Rupee

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

a.C.D. Deshmukh

b.L.K. Jha

c.Osborne Smith

d.C.Rajagopalachari

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

a.Rs. 10 Crore

b.Rs. 5 Crore

c.Rs. 20 Crore

d.Rs. 15 Crore

47. The term of Appointment of RBI Governor is

a.4 years

b.10 years

c.1 year

d.5 years

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

a.Decrease in Repo Rate

b.Reduction in CRR and SLR

c.All of the above

d.Purchase of Securities in Open Market

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

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