RBI Challenge

The legal provisions governing the management of foreign exchange reserves are laid down in the Reserve Bank of India Act, ______.

• 1947

• 1934

• 1923

• 1971

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

• Chamberlain Commission

• Hilton Young Commission

• Keynes Commission

• None of the above

Who mints the coins in India?

• Ministry of Finance

• Reserve Bank of India

• Prime Minister’s Office

• Commerce and Industry Ministry

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

• Osborne Smith

• C. Rajagopalachari

• L. K. Jha

• C.D. Deshmukh

What is CRR?

• Cash Reserve Ratio

• Current Ratio Rate

• Review Report

• Credit Rating Record

In terms of Section 24 of the Reserve Bank of India Act, 1934, the Reserve Bank may issue bank notes for a maximum denomination of?

• Rs.500

• Rs.5000

• Rs.10000

• Rs.1000

When was the Reserve Bank of India established?

• 15th August, 1947

• 26th January, 1950

• 1st April, 1935

• 1st January, 1949

As we all know, banks in India are required to maintain a portion of their demand and time liabilities with the Reserve Bank of India. This portion is called?

• A) statutory liquidity ratio.

• B) cash reserve ratio

• C) bank deposit

• D) reserve repo

Reserve Bank of India is the lender of the last resort to scheduled commercial banks because?

• the parties can approach R B I when their limits are exhausted.

• they are not able to get loans from other banks.

• R B I meets directly or indirectly all their reasonable demands for financial accommodation subject to certain terms and conditions which constitute its discount rate policy.

• All of the above.

Banks without the prior approval of the Reserve Bank of India (R B I), can’t:

• one a new place of business in India or abroad.

• shift otherwise that within the same centres (city/ town/ village) of the existing place of business.

• shift their sole rural branch outside the centre/ village is not permitted, as such shifting would render the centre unabated.

• All of the above.