Banking Structure in India Quiz

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Topic: About Reserve Bank of India

Number of Questions: 15

Pre-Readings: About the Reserve Bank of India

1. What is the capital of Reserve Bank of India?
   A) Rs 10 crore
   B) Rs 5 crore
   C) Rs 50 crore
   D) Rs 100 crore
   
   View answer

     Option B
   Explanation: The capital of the Reserve Bank of India is Rs 5 Crore.
2. In which year Reserve Bank of India was established?
   A) 1928
   B) 1934
   C) 1935
   D) 1949
   
   View answer

     Option C
   Explanation: The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.
3. In 1935 the headquarters of RBI was established in which city?
   A) Mumbai
   B) Delhi
   C) Madras
   D) Calcutta
   
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   Option D
   Explanation: The Headquarters of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937.
4. In which year was RBI nationalized?
   A) 1935
   B) 1969
   C) 1949
   D) 1947
   
   View answer

   Option C
   Explanation: RBI was nationalisation in 1949 and the Reserve Bank is fully owned by the Government of India.
5. Where is the headquarters of RBI located?
   A) Mumbai
   B) Delhi
   C) Kolkata
   D) Kerala
   
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   Option A
6. RBI can have maximum of how many Deputy Governors at a time?
   A) 3
   B) 4
   C) 5
   D) 6
   
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   Option B
   Explanation: Maximum four Deputy Governors. Maximum term- 5 years (Appointed under Section 8 (1) (a) of the RBI Act, 1934)
7. In total there can be maximum ____ members of the central board of the RBI.
   A) 19
   B) 20
   C) 21
   D) 22
   
   View answer

   Option C
   Explanation: 1- Governor; 4 DG; 10 Directors by Govt; 4 Local Board Director; 2 Officials from Finance Ministry
8. RBI has how many local boards in the country?
   A) 3
   B) 4
   C) 5
   D) 6
   
   View answer

   Option B
   Explanation: Mumbai, Kolkata, New Delhi, Chennai
9. Each local boards of RBI have _____ members each appointed by the Central Government for a period of ___ years.
   A) four, 5
   B) Five, 5
   C) four, 4
   D) five, 4
   
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   Option D
   Explanation: Each of the four areas has one Local board each. Each local boards have five members each appointed by the Central Government for a period of 4 years.
10. There are how many members in the monetary policy committee (MPC) of RBI?
    A) 3
    B) 6
    C) 9
    D) 12
    
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    Option B
    Explanation: Section 45ZB of the amended RBI Act, 1934 also provides for an empowered six-member monetary policy committee (MPC).
11. Who is the chairman of monetary policy committee (MPC)?
    A) Finance Minister
    B) Prime Minister of India
    C) Governor of RBI
    D) Deputy Governor of RBI
    
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    Option C
    Explanation: Governor of the Reserve Bank of India – Chairperson, ex officio
12. RBI has how many Banking Ombudsman Offices?
    A) 19
    B) 20
    C) 21
    D) 22
    
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    Option C
    Explanation: There are 21 Offices
13. RBI has how many fully owned subsidiary?
    A) 2
    B) 3
    C) 4
    D) 5
    
    View answer

    Option B
14. Which of the following is not a fully owned subsidiary of RBI?
    A) DICGC
    B) BRBNMPL
    C) NABARD
    D) NHB
    
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    Option C
    Explanation: Fully owned Subsidiaries of RBI : Deposit Insurance and Credit Guarantee Corporation of India(DICGC), Bharatiya Reserve Bank Note Mudran Private Limited(BRBNMPL), National Housing Bank(NHB)
15. Which of the following is/are function of RBI?
    i. Framing the Monetary Policy
    ii. Regulator of Money Market
    iii. Computing And Disseminating Reference Rate For USD/INR
    iv. Foreign Exchange Management
    A) i, ii and iii only
    B) ii, iii and iv only
    C) i, ii and iv only
    D) i, ii, iii and iv
    
    View answer

    Option C
    Explanation: Computing And Disseminating Reference Rate For USD/INR is done by FBIL

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