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

a.Acting as bankers to the Government

b.Keeping of Foreign Exchange Reserve

c.Regulating credit in the country

d.Issuing of one rupee notes and coins

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

a.Nationalised Banks

b.State Bank of India

c.NABARD

d.Reserve Bank of India

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

a.January 1st 1935

b.July 1st 1955

c.July 1st 1959

d.Feb 26 1947

4. Regional Rural Banks were established in the year -

a.1969

b.1975

c.1973

d.1972

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

a.3 years

b.10 years

c.5 years

d.20 years

6. Who signs on the Rs. 1 note?

a.RBI Governor

b.Prime Minister

c.Finance Secretary

d.Finance Minister

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

a.One

b.Two

c.Four

d.Three

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

a.50%

b.15%

c.25%

d.35%

9. On which date, RBI started working?

a.1st April 1935

b.31st March 1934

c.1st January 1934

d.1st January 1935

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

a.Rs. 15 Crore

b.Rs. 20 Crore

c.Rs. 10 Crore

d.Rs. 5 Crore

11. When was Reserve Bank of India established?

a.1920

b.1925

c.1948

d.1935

12. What are the principles of issuing notes?

a.Elasticity

b.All of the above

c.Security

d.Uniformity

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

a.1949

b.1950

c.1947

d.1948

14. When was Indian Banking Act come into force?

a.1950

b.1948

c.1949

d.1951

15. In which year the RBI act was passed?

a.1934

b.1969

c.1921

d.1955

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

a.Medium term purpose

b.Very Long term purpose

c.Short term purpose

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

a.21

b.22

c.19

d.17

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

a.C.D. Deshmukh

b.Osborne Smith

c.C.Rajagopalachari

d.L.K. Jha

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

a.Custodian of foreign currency

b.Allocating funds directly to the farmers for agricultural developmen

c.Credit controller

d.Bank of the banks

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

a.Advisory Committee

b.The Loan Department

c.The issue Department

d.The Agricultural Department

21. When was Lead Bank Scheme introduced?

a.1969

b.1967

c.1974

d.1968

22. 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.1 and 2

d.all are correct

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

a.100

b.5

c.20

d.10

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

a.Securities and Exchange Board of India

b.Government of India

c.Reserve Bank of India

d.State Bank of India

25. Thw RBI was originally setup a ____

a.Public Bank

b.Private Bank

c.Development Bank

d.Merchant Bank

26. The largest revenue in India is obtained from

a.Sales Tax

b.Excise Duty

c.Railways

d.Direct Taxes

27. The term of Appointment of RBI Governor is

a.4 years

b.10 years

c.1 year

d.5 years

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

a.Hilton Young Commission

b.None of the Above

c.Chamberlain Commission

d.Keynes Commision

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

a.Decrease in Repo Rate

b.Purchase of Securities in Open Market

c.All of the above

d.Reduction in CRR and SLR

30. What is CRR?

a.Cash Reserve ratio

b.Current Ration Rate

c.Review Report

d.Credit Rating Record

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

a.Staff Selection Commission

b.The Central Government

c.The State Government

d.Finance Minister

32. Credit authorization scheme was introduced by RBI in:

a.1949

b.1965

c.1969

d.1935

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

a.1935

b.1921

c.1956

d.1934

34. Original headquarters of RBI were located at ___?

a.Madaras

b.Bombay

c.New Delhi

d.Calcutta

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

a.1949

b.1935

c.1929

d.1914

36. Who mints the coins in India?

a.Ministry of Finance

b.Prime Minister's Office

c.Commerce and Industry Ministry

d.Reserve Bank of India

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

a.Hilton Young Commission

b.Chamberlain Commission

c.British Raj

d.Narasimham-II Committee

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

a.Two Rupee

b.One Rupee

c.Ten Rupee

d.Five Rupee

39. When was the second phase of nationalisation done

a.15th April, 1980

b.16th August 1985

c.10th July 1968

d.9th July 1969

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

a.2004

b.1980

c.1970

d.1952

41. Head office of RBI is located in:

a.Mumbai

b.Chennai

c.Delhi

d.Kolkata

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

a.Functional Specialisation

b.Divisional Structure

c.Military Organisation

d.Functional Foremanship

43. 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.1

b.Rs.10

c.Rs.20

d.Rs.5

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

a.Blue Chip

b.Cash Reserve ratio

c.Bank rate

d.Repo Rate

45. Who gave the Rupee symbol?

a.Uday Kumar

b.C. Mukherjee

c.Rajeev Shukla

d.Venkat Subramaniam

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

a. January 1 to December 31

b.1st July to 1st June

c.1st April to 30th March

d.1st July to 30th June

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

a.V.K. Malhotra

b.K.A. Narasimham

c.A.K. Vadia

d.A.B.A Smith

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

a.Both of the above

b.RBI

c.Government of India

d.By resoective banks

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

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